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Sears – Business Updates

This topic contains 218 replies, has 47 voices, and was last updated by  Sorpa 3 months ago.

Viewing 20 posts - 101 through 120 (of 219 total)
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  • #701393

    DirtyWhiteBoy
    Pro
    Honolulu,, Hi.

    Expect some malls to be demolished soon

    That’s not happening here,, only building new malls.

    Lots of tax credits in building new. They are still going to tear down the old ones because it’s advantageous to build new instead of update old.

    Not everywhere, but in a lot of places. Places where the land is now owned by Eddie

    We only have 4 malls on this island and one of them is the worlds biggest open air mall. Ala Moana Mall is huge!

    Dirty

    A Working Pro since 1988!

    Member since January 26, 2013.

    #701398

    Doobie
    Pro

    I read a few months ago that in some places here in Canada where there were old Sears in malls they’ve converted them to condo units. There just ain’t a lot of retailers who would want to take over these locations.

    One near me they are building it into a new theater complex. There was already one in that mall, but it was old and will be obviously closed and itself be changed to something else as well.

    #701407

    GTokley
    Pro
    Madoc, ON

    There’s a lot of malls here in Canada right now with big empty old Sears stores in them, especially in smaller towns.

    I think there is a store in where Sears was in our local mall. I not sure if takes up all the store space. I don’t go to the mall.

    Greg

    instagram.com/gregtokley/

    #701441

    kurt@welkerhomes.com
    Pro
    Owatonna, MN - Minnesota

    I thought at the time buying Kmart was mainly to acquire Kmart’s real estate assets. Some of the Kmarts own it’s own land.

    It was actually K-Mart that bought sears and renamed the company Sears Holdings.

    Eddie Lampert who had taken K-Mart out of Bankruptcy and made a fortune selling off K-marts leases on the “good” properties they controlled, I believe he thought he could do the same with Sears. Unfortunately the Good Properties are typically the most profitable stores also, so by selling off the leases you also sell off your best stores (cutting off your nose in spite of your face). He stripped out the cash then took Sears Holding public again. He is the major debt holder and has run the business to make sure he gets paid first. My guess is that Monday was the day after claw back provisions in the bankruptcy code ran out on significant payments he had made to himself.

    http://www.nbcnews.com/id/6509683/ns/business-stocks_and_economy/t/kmart-acquire-sears-billion-deal/

    #701443

    theamcguy
    Pro
    Fayetteville, NC

    Expect some malls to be demolished soon

    Interesting look at the whole deal. Bankrupt a company but come out ahead on the real estate.

    Automotive Pro
    Fayetteville, NC

    #701454

    RonW
    Pro
    Holladay, Tn

    It was actually K-Mart that bought sears and renamed the company Sears Holdings.

    I did not know this Kurt. Always thought is was the opposite.

    Ron

    A Working Pro since 1994!

    Member since March 26, 2014.

    #701523

    Doobie
    Pro

    It was actually K-Mart that bought sears and renamed the company Sears Holdings.

    I did not know this Kurt. Always thought is was the opposite.

    Neither did I. Just read a bunch of all this history on wiki. Still seems odd that Kmart comes out of bankruptcy in 2003-4 and buys Sears for $11B. Weird.

    #701576

    redwood
    Pro

    Another casualty of Sears Holdings operating practices is the closing of what I perceived was the best hardware store chain in Nor. Calif. Orchard Supply Hardware. They filed for bankruptcy under Sears and were then sold to Lowes. All of their stores will be closed by the end of the year.

    Mark E.

    Pioneer, CA

    Working Pro 1972 - 2015
    Member since Jan 22, 2013
    www.creative-redwood-designs.com

    #701611

    Doobie
    Pro

    Another casualty of Sears Holdings operating practices is the closing of what I perceived was the best hardware store chain in Nor. Calif. Orchard Supply Hardware. They filed for bankruptcy under Sears and were then sold to Lowes. All of their stores will be closed by the end of the year.

    So Lowes buys them out of bankruptcy and just goes and closes them? Why would they just do that? Seems odd.

    #701631

    theamcguy
    Pro
    Fayetteville, NC

    Another casualty of Sears Holdings operating practices is the closing of what I perceived was the best hardware store chain in Nor. Calif. Orchard Supply Hardware.

    That’s too bad Mark. Seems like more and more good stores close.

    Automotive Pro
    Fayetteville, NC

    #701648

    GTokley
    Pro
    Madoc, ON

    Another casualty of Sears Holdings operating practices is the closing of what I perceived was the best hardware store chain in Nor. Calif. Orchard Supply Hardware. They filed for bankruptcy under Sears and were then sold to Lowes. All of their stores will be closed by the end of the year.

    Wow that really sucks. Is there a Lowes near by that place?

    Why would they just do that? Seems odd.

    Would it be possible Lowes wants the sales from that area.

    This reminds me of something similar. I got to know a guy who was a welder. He was telling me one job he had worked on in Northern Ontario. He had to go in and dismantle a sawmill. All the machinery was cut up and sent for scrap metal. He also told me some of the machinery was fairly new. A large sawmill company bought that company for the lumber contracts, timber rights and to get rid of the little guy.

    Greg

    instagram.com/gregtokley/

    #701678

    Doobie
    Pro

    This reminds me of something similar. I got to know a guy who was a welder. He was telling me one job he had worked on in Northern Ontario. He had to go in and dismantle a sawmill. All the machinery was cut up and sent for scrap metal. He also told me some of the machinery was fairly new. A large sawmill company bought that company for the lumber contracts, timber rights and to get rid of the little guy.

    The business world has a long history of the bigger fish eating or out-crowding the smaller fry. Sears you could say is a victim of that as well when one considers the effect of what Amazon did to them.

    #701691

    kurt@welkerhomes.com
    Pro
    Owatonna, MN - Minnesota

    Another casualty of Sears Holdings operating practices is the closing of what I perceived was the best hardware store chain in Nor. Calif. Orchard Supply Hardware. They filed for bankruptcy under Sears and were then sold to Lowes. All of their stores will be closed by the end of the year.

    Wow that really sucks. Is there a Lowes near by that place?

    Why would they just do that? Seems odd.

    Would it be possible Lowes wants the sales from that area.

    This reminds me of something similar. I got to know a guy who was a welder. He was telling me one job he had worked on in Northern Ontario. He had to go in and dismantle a sawmill. All the machinery was cut up and sent for scrap metal. He also told me some of the machinery was fairly new. A large sawmill company bought that company for the lumber contracts, timber rights and to get rid of the little guy.

    we had that happen to a local block producer, and precast company. The big corporate cement and block producer purchased them and shut them down because they had been a thorn in the big companies side. not the owner of the small company runs the precast division for the big company.

    It also happened to a cement plant locally. Same big company bought them and shut them down to eliminate the competition.

    This reminds me of something similar. I got to know a guy who was a welder. He was telling me one job he had worked on in Northern Ontario. He had to go in and dismantle a sawmill. All the machinery was cut up and sent for scrap metal. He also told me some of the machinery was fairly new. A large sawmill company bought that company for the lumber contracts, timber rights and to get rid of the little guy.

    The business world has a long history of the bigger fish eating or out-crowding the smaller fry. Sears you could say is a victim of that as well when one considers the effect of what Amazon did to them.

    Sears was the Amazon of the early 1900’s most of their product was delivered through the mail. With the invention of the shopping mall, retailers made the move from catalog to storefronts. We have now gone full circle where things are now prefered to be delivered by mail instead of buying at a mall.

    #701720

    GTokley
    Pro
    Madoc, ON

    The business world has a long history of the bigger fish eating or out-crowding the smaller fry

    This is so true.

    Sears you could say is a victim of that as well when one considers the effect of what Amazon did to them.

    Would you not say Sears did some of this to them selves?

    Sears was the Amazon of the early 1900’s most of their product was delivered through the mail. With the invention of the shopping mall, retailers made the move from catalog to storefronts. We have now gone full circle where things are now prefered to be delivered by mail instead of buying at a mall.

    Sears was a pretty important where I live. It is 30 to 40 min drive to the mall. We had a Sears depot where you order & picked your items. Growing up this was pretty important for families to get back to school shopping & Christmas shopping done.

    I would have say in my area it was Walmart that effected Sears when we got a Walmart store in the 90’s. Now we have Amazon. When shopping online you don’t have deal with pushy customers and long line ups to check out.

    Greg

    instagram.com/gregtokley/

    #701736

    Doobie
    Pro

    Would you not say Sears did some of this to them selves?

    Absolutely. Failure to properly address a competitive threat properly.

    There’s also consumer perception in the mix. They were always viewed as a pricier retailer of decent quality. People often want cheap nowadays and don’t much discern between quality and over-priced crap such as Walmart type places offer. Too many consumers nowadays just look at price tags without correlating what quality is actually involved. This is not the way people should buy things.

    #701740

    GTokley
    Pro
    Madoc, ON

    Failure to properly address a competitive threat properly.

    I never really thought of this. I was thinking maybe there customer service & quality of products that come to mine.

    . Too many consumers nowadays just look at price tags without correlating what quality is actually involved. This is not the way people should buy things.

    I agree! Everybody wants a deal. But then there is a few people who just buy for the name and not worried about the price. They have to have brand name clothes like there friends.

    Greg

    instagram.com/gregtokley/

    #701750

    DirtyWhiteBoy
    Pro
    Honolulu,, Hi.

    I agree! Everybody wants a deal. But then there is a few people who just buy for the name and not worried about the price. They have to have brand name clothes like there friends.

    I don’t think it’s as bad in the US as in canada. We don’t pay taxes on our taxes,,

    Dirty

    A Working Pro since 1988!

    Member since January 26, 2013.

    #701818

    Miamicuse
    Pro
    Fort Lauderdale, Florida

    Walmart may not be too far behind.

    I absolutely hate to shop at Walmart, and two months ago I wanted to buy about 20 blinds for a rental and Walmart has them about 20% cheaper for same brand. I figured I order it online and just go to pick it up. Big mistake. Their web site was a mess, after the order was completed they had to break it into 5 separate shipments, coming from different warehouses. Two arrived, and one of them had damages, the other three got lost, as in they had no idea where it went. I had tenants moving in so I told them to cancel the whole thing. What a nightmare. I hate Walmart, and that’s being nice.

    #701861

    Doobie
    Pro

    I agree! Everybody wants a deal. But then there is a few people who just buy for the name and not worried about the price. They have to have brand name clothes like there friends.

    I don’t think it’s as bad in the US as in canada. We don’t pay taxes on our taxes,,

    We don’t either. We have provincial and federal sales taxes. Some provinces combine both of them into one tax only and call it a ‘Harmonized’ sales tax. It’s still both taxes combined, but it’s one percentage applied instead of two seperate ones.

    Hey, at least we don’t get taxed on lottery or prize winnings here. But then, some people get taxed running up a flight of stairs, but that’s because they’re not in shape! Lol!

    #702058

    Miamicuse
    Pro
    Fort Lauderdale, Florida

    We don’t pay taxes on our taxes,,

    We do pay taxes on taxes. We pay federal income taxes, state income taxes, then we use the after tax income to buy stuff and pay sales taxes. Then we use after tax money to buy stocks and any gain is again taxed for capital gains. Starting in 2018 tax year even mortgage interests and property taxes have a maximum cap in deduction so if you cap out your all your property tax money paid to the county will not wash out on the fed tax side. We pay taxes out of our butt cheeks!

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