QuoteMore than two dozen Kmart stores will be closing this spring, with liquidation sales beginning later this month, a Sears Holding Corp. spokesman told the Detroit Free Press.
Company spokesman Howard Riefs declined to tell the Free Press the number of stores that would be closing, but added that the closures would be nationwide and include some Sears stores as well.
Full article: http://www.newsmax.com/TheWire/kmart-sears-closings-macys/2016/01/14/id/709456/
Sears is s sinking ship. They have done absolutely zero to update their stores ( Kmart or Sears) and they look like they are stuck in decades past. I swear the Sears in Orange Park looks exactly the same way it did when I was there as a kid. Don't see much hope for them unless they drastically change.
Quote from: Dapperdan on January 15, 2016, 11:00:01 AM
Sears is s sinking ship. They have done absolutely zero to update their stores ( Kmart or Sears) and they look like they are stuck in decades past. I swear the Sears in Orange Park looks exactly the same way it did when I was there as a kid. Don't see much hope for them unless they drastically change.
Agreed. Sears Holdings is a sinking ship. Their biggest asset is their real estate now.
Its amazing how ahead of the curve they were at one time, they had online shopping on their ISP, Prodigy years before the internet became a commodity.
Now they have become a dividend machine for institutional investors who demand no risk taking. They will continue to dwindle until they go BK and sell the real estate in foreclosure to pay the final bill.
Soon to be going the way of Service Merchandise....who remembers that store and their catalogs?
Quote from: fsujax on January 15, 2016, 02:04:49 PM
Soon to be going the way of Service Merchandise....who remembers that store and their catalogs?
Oh yeah. Them and McDades.
Quote from: fsujax on January 15, 2016, 02:04:49 PM
Soon to be going the way of Service Merchandise....who remembers that store and their catalogs?
used to mark up those catalogs and the wish book from Sears for Xmas as a kid.
Sad, once the nations largest employer. And now we see Walmart closing stores, nobody stays on top forever.
I hope they can turn it around, they're the only bargain department store. But I think they made a big mistake making a lot of their craftsman tools outside of the United States.
Empty big boxes soon to be all over the country, now with Walmart's announcement today.
The Walmart store closings are mostly underperforming stores including their Walmart Express, Sam's Clubs, Neighbourhood Grocery and some overseas locations, including Brazil, with only a handful of big box stores impacted in the US. Not to worry because they are opening 69 new big box stores in January alone. Walmart is still on top unfortunately!
Heres a link to a listing with a map - nothing in JAX http://qz.com/595877/heres-a-list-and-map-of-all-the-walmart-store-closings-in-the-us/
It's a Natural cycle with discount/department stores, some really great shopping experiences have come and gone from our doorstep.
"One of these days and it won't be long
you'll look for me and baby I'll be gone..." 8)
STORE/CHAIN - CLOSING/PURCHASE
COHEN BROTHERS - 1959
ZAYRE - 1990
AMES - 2009
BURDINES - 2004
FALKS - 1981
FURCHGOTTS - 1985
GOLD TRIANGLE - 1981
BIG K (Not K-Mart Related) - 1988
TWO GUYS - 1982
TG&Y - 1986-2001
J B IVEYS - 1990
JORDAN MARSH - 1991
J. M. FIELDS - 1978
KRESGE - 1977
MAY-COHEN - 1987
PARISIAN - 2007 (2013 in MI)
ROBINSONS - 2015
GAYFERS - 1998
WOOLCO - 1983
W. T. GRANT'S - 1976
PIC-N-SAVE DRUGS - 2002
BULLOCK'S - 1993
MC CRORY'S - 1997
FOLEY'S - 2006
G. C. MURPHY'S - 1997-2001
BEN FRANKLIN - Chapter 7
WOOLWORTH - 2001
We used to shop at a store called Jupiter.
It was owned by Kresges but sized for small towns.
Quote from: Ocklawaha on January 16, 2016, 11:10:20 PM
It's a Natural cycle with discount/department stores, some really great shopping experiences have come and gone from our doorstep.
"One of these days and it won't be long
you'll look for me and baby I'll be gone..." 8)
STORE/CHAIN - CLOSING/PURCHASE
COHEN BROTHERS - 1959
ZAYRE - 1990
AMES - 2009
BURDINES - 2004
FALKS - 1981
FURCHGOTTS - 1985
GOLD TRIANGLE - 1981
BIG K (Not K-Mart Related) - 1988
TWO GUYS - 1982
TG&Y - 1986-2001
J B IVEYS - 1990
JORDAN MARSH - 1991
J. M. FIELDS - 1978
KRESGE - 1977
MAY-COHEN - 1987
PARISIAN - 2007 (2013 in MI)
ROBINSONS - 2015
GAYFERS - 1998
WOOLCO - 1983
W. T. GRANT'S - 1976
PIC-N-SAVE DRUGS - 2002
BULLOCK'S - 1993
MC CRORY'S - 1997
FOLEY'S - 2006
G. C. MURPHY'S - 1997-2001
BEN FRANKLIN - Chapter 7
WOOLWORTH - 2001
Historical context is always welcome! Remember shopping at Grants over in highlands back in the late 60's was a dump even back then. The JM fields off I think it was 42nd street, it was the road opposite the old Main street Drive, it wasn't much better.
Sears is closing 50 stores:
http://www.news4jax.com/news/national/sears-announces-its-closing-at-least-50-stores_
Quote from: coredumped on February 09, 2016, 08:31:22 PM
Sears is closing 50 stores:
http://www.news4jax.com/news/national/sears-announces-its-closing-at-least-50-stores_
A drop in sales revenue of almost a billion dollars and they blame it on "warmer weather" and "competition"?
I would say its a lot more than that. Its going to take more than apparel price changes to turn this sinker around.
Gotta keep up that dividend for all of those institutional investors and retirees. Nothing left to reinvest in the company.
Here's a partial list. Lutz, Lake Park and Daytona are on the Kmart closing list.
http://www.cbsnews.com/news/are-your-local-sears-and-kmart-stores-closing/
Quote from: thelakelander on February 09, 2016, 09:16:51 PM
Here's a partial list. Lutz, Lake Park and Daytona are on the Kmart closing list.
http://www.cbsnews.com/news/are-your-local-sears-and-kmart-stores-closing/
Thats a squirrley list.Its lists a k-mart in mobile al and a K-mart in Bel Air, Al closing this year (No such place as Bel Air, al). Its actually the Bel Air Mall in Mobile, al. The link to Bel Air, al and the Mobile, al link to the same AL.com new article l That store (Sears) closed last year around August Think I would take the list with a grain of salt, trust but verify.
I do know that the Daytona Kmart is closing. There was a huge "closing" banner on the store when I was down there last week.
Sears to close 68 Kmarts, two in the Jax area.
http://www.news4jax.com/news/sears-to-close-68-kmart-10-sears-stores-this-summer
Not surprising. Will Jax have any Kmarts left?
It looks like the Regency Square Sears is closing too.
http://www.usatoday.com/story/money/business/2016/04/21/list-sears-kmart-stores-closing-across-us/83356912/
Florida
Sears / 9501 Arlington Expy., Jacksonville
Kmart / 9600 San Jose Blvd., Jacksonville
Kmart / 500 Atlantic Blvd, Neptune Beach
Kmart / 1809 Byron Butler Parkway, Perry
Another punch in the gut for Regency.
Was the K-Mart on Normandy already scheduled to close?
Bad timing for Regency just as they were at least starting to get on the right track.
The Kmart on San Jose is way overdue for closing, it's pretty bad on the inside. That would be a pretty great location for anything that wants to come in there. A grocer might work well, one that appeals to a different demographic than the Save a Lot across the street. Maybe Walmart, although they have a location further down SJ.
I just don't want to see it sit vacant. That's (marginally) even worse than being a decaying Kmart.
Quote from: FSBA on April 21, 2016, 10:30:46 PM
Was the K-Mart on Normandy already scheduled to close?
the Normandy store will be the last remaining Kmart in Jacksonville.
Sears warns of 'going concern' doubts
http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social (http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social)
Quote from: vicupstate on March 22, 2017, 10:01:15 AM
Sears warns of 'going concern' doubts
http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social (http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social)
The city where I live has only one major mall. We just lost our Macy's and JC Penney in the past three months. If Sears goes belly-up, we'll have a mall with ZERO anchors. At least the movie theater is still surviving. Crazy times.
Quote from: vicupstate on March 22, 2017, 10:01:15 AM
Sears warns of 'going concern' doubts
http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social (http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social)
Basically saying they are running out of assets to raise liquidity. The federal pension board is putting liens on the asset sales to make sure future profits will continue to support retirees.
This is reducing the value of Kenmore and DieHard brands. No one wants to prop up a pension with a product that is in a price sensitive market that has nothing to do with them.
The exodus in the Sears c-suite is growing. CEO Lampert's video conference yell fests are now legendary. No one is allowed to share "bad news". He still expects Sears to become a data powerhouse like Amazon, which baffles people.
Many think he already knows Sears fate and is putting up a good show to avoid a fiduciary lawsuit while he walks away with the real estate through his REIT.
No matter how you look at it, Sears will probably not make it to Christmas, they wont be able to finance it.
That would be sad - I've always enjoyed shopping at Sears.