KMart - Bleak outlook and poor earnings are weighing down this sinking ship

[jay4e]

Bankruptcy appears  imminent: https://www.cnn.com/2018/10/12/business/sears-bankruptcy/index.html

 

just chapter 11 restructuring though. eddie just wont let the poor girl die.

 

gcs will still be honored. but its advisable to use up any syw points, just in case those are cut with out notice, or inventory dries up. though syw is a separate asset, not just a rewards program, so they may try to keep it active.

[Bold-Arrow]

It is official ! Sears declares bankruptcy and hopes to restructure. 

[minicoopers11]

GCs will still be honored, but keep in mind the judge can overrule the company's position on that. Definitely use them ASAP.

[Phil B]

My closest KMart (20 miles away, but only 5 miles from my work) is confirmed to stay open. Cashed out of another $40 in points, though clearance went back from 30% off to 20% off in ways only Kmart understands. Will check my other KMart later today, still have $10 left in points . Next $25 installment will follow at the end of October - looks likely it will credit

[landphieran]

4 hours ago, Bold-Arrow said:

It is official ! Sears declares bankruptcy and hopes to restructure. 

Based on how unintelligible there rewards system can be. The complete lack of transparency on stock levels. IE they often show things in stock that you can't get through check out with or add to the cart. Its all a very frustrating experience.

Hopefully i can score a cheap fridge

[KvHulk]

Honoring GC's and rewards programs... Continue to (cautiously) plunder Kmart/Sears as normal...

Edited October 15, 2018 by KvHulk

[Achilles]

https://searsholdings.com/docs/101518_store_closing_list.pdf

Sadly, my last local Kmart is on the list. When I got into this game there were about 6 or 7 regional K-marts, and a few Sears. Now there will be none.

Guess I'll be road tripping next year

[Bold-Arrow]

"But as bad as things have been for Sears, they're worse for Kmart" - CNN

https://www.cnn.com/2018/10/21/business/sears-bankruptcy-kmart/index.html

[KvHulk]

Kmart.com went from over 300+ Lego sets available for Free Shipping to 147, overnight.

[Phil B]

https://www.chicagotribune.com/business/ct-biz-sears-bankruptcy-holidays-1102-story.html

Best part is this: "Sears does have one new factor working in its favor: a groundswell of support from customers nostalgic for its heyday. There was a “marked uptick” in online and store traffic and sales in the days following the bankruptcy filing, Boutros said."

Surely that wasn't caused by all of us liquidating our points holdings ... No no no

[legorunner]

My nearest Kmart is about 30 minutes away, so its not a quick trip. I headed over there today to burn some points that just hit my account and thought I'd report on the status of this closing store in case any of you are also considering making treks to Kmart. 

Toys are at 20% (everything else is 10-30%) with some toys and a couple of LEGO sets in clearance at 30%. I'd guess about half of the LEGO stock was gone in the "boys" section. Most of the Star Wars, Ninjago, Super Heroes and Minecraft LEGO was gone. Lots of City still, but almost alll of the $20 sets were marked up to $25.99, which makes the 20% still above RRP. Plenty of Friends sets and some Elves sets over in the "girls" section of the store.

The store was the most crowded I've ever seen it. Hoping that there will still be some good stuff when the store liquidation makes it to 40%+, but I won't be surprised if it doesn't, especially with the Holidays approaching. 

 

[Bold-Arrow]

40 more Sears/Kmart stores to close : 

https://www.cnn.com/2018/11/08/business/sears-closing-40-more-stores/index.html

[Phil B]

$950M loss in the last 3 months alone, $1.9B loss in 9 months. Ouch.

[exciter1]

2 minutes ago, Phil B said:

$950M loss in the last 3 months alone, $1.9B loss in 9 months. Ouch.

Not hard to do when you don't have any inventory to make profit on.

[Phil B]

Not hard to do when you don't have any inventory to make profit on.

And when you are giving your "members" $20-$40 each week.....

[exciter1]

4 minutes ago, Phil B said:

7 minutes ago, exciter1 said:

Not hard to do when you don't have any inventory to make profit on.

And when you are giving your "members" $20-$40 each week.....

I'm sure that's like 1% of their customers, but no inventory and still slow lines, terrible stores, and no incentive to shop there continue to contribute to their downfall.

[exracer327]

I'm starting to get dirty looks from my only local Kmart because the same ppl are manning the registers.  They're there every time I spend my allotted $25 in free cash. 

It's getting harder to spend the money though cause their LEGO stock sucks.  I don't think they've gotten anything new for months and I'm pretty sure, based upon what I keep seeing, I'm the only one buying their LEGO... lol.  I'm making what is probably going to be my last trip with free cash tmrw.  Unless I play their game again (buy something I need for the home) and get more free cash.

Seriously, whoever at Kmart / Sears came up with this free cash incentive should really be fired.  I've loaded up on so many LEGO sets for near nothing for months now it's really ridiculous.  I would feel bad about it but I realized after the fact that one of the register ppl didn't apply my free cash on one purchase.

[mizeur]

https://www.cnbc.com/amp/2018/12/28/sears-chairman-eddie-lampert-submits-bit-for-company.html

Eddie put in a new bid to prevent total liquidation. Creditors will fight a financed bid.

[mizeur]

In the meantime, 80 more stores closing.

https://www.cnbc.com/amp/2018/12/28/sears-closing-80-more-stores-in-march-faces-possible-liquidation.html

[Achilles]

https://www.barstoolsports.com/chicks/spokane-man-holds-vigil-to-save-a-kmarts-little-caesars-it-only-gets-weirder-from-there

 

Save Our Ceasars!

[Phil B]

25 minutes ago, Achilles said:

https://www.barstoolsports.com/chicks/spokane-man-holds-vigil-to-save-a-kmarts-little-caesars-it-only-gets-weirder-from-there

 

Save Our Ceasars!

That video is absurd:

Woman rolls out a full cart of merchandise, manager pursues, grabs the cart. She just looks at him, grabs her purse and calmly walks away, while the manager wheels the whole load back into the store.

Wait a minute ....

on closer inspection: Hello Mom!

Edited January 18, 2019 by Phil B

[Phil B]

Store closures are back! Not a complete list, but both my Sears as well as my KMarts are on the list. A good thing my year-long $25/mth just ended, and they have no interesting LEGO left. I really doubt they are getting back into a contract with TLG if they are still closing this many stores.

[exciter1]

Another honey hole is closing, but my last local store stays open.

[Phil B]

Store closures are back! Not a complete list, but both my Sears as well as my KMarts are on the list. A good thing my year-long $25/mth just ended, and they have no interesting LEGO left. I really doubt they are getting back into a contract with TLG if they are still closing this many stores.

Missing from that list, here are the 14 Sears locations that are closing:

Jacksonville, FL
Heath, OH
Aurora, CO
Corpus Christi TX
Oviedo FL
Carlsbad CA
Gaithersburg MD
Cincinnati OH
Bayamon PR
Everett WA
Washington PA
Aberdeen WA
Las Cruces, NM
Leesburg, FL

[KvHulk]

Burn baby, burn.