Look at the chart of same store sales going back to 2008. Only one
quarter where there was a gain in same store sales and it was very
small, maybe 1%. Many quarters with 10 to 16% declines. And remember
that's while shedding the worst stores. The only thing left is for
the fat lady to sing.
Clearly it's bad management, Walmart and Target are doing fine and
Sears was there first.
On Thu, 13 Sep 2018 16:48:32 -0700 (PDT), trader_4
I imagine Lampbert made plenty of money parting out Sears but he
certainly did nothing to save them or Kmart.
The ironic thing is 20 years ago Sears was perfectly placed to become
Amazon. They started as a mail order store and simply failed to
establish an internet presence when it was clear the malls were dying.
On Friday, September 14, 2018 at 1:35:46 PM UTC-4, Ralph Mowery wrote:
I guess whoever put the pension into place 50 or 100 years ago couldn't
foresee the future. Sears is hardly the only entity that is underfunding
pension liabilities. Most states, cities, municipalities have that
down to an art. Or the fed govt with social security for that matter.
On Fri, 14 Sep 2018 11:01:13 -0700 (PDT), trader_4
The difference is the PBGC actually tries to insure private pension
funds are solvent because they are on the hook if they aren't. That is
not true of municipal, state or federal pension programs.
Unfortunately PBGC is an under funded operation making guarantees they
have no way of paying.
Raiding an "over funded" pension plan was part of the Clinton economic
boom. The problem is the plan was only over funded if they did not
push people into it early to get them off the payroll and they never
planned on a COLA. It certainly pumped up profits and made the stock
look good but like most "90 day window" plans that were so popular in
the 90s, the future be damned.
Stuff ordered from Sears would usually take 2 weeks and sometimes longer
because the item would be out-of-stock and have to be back-ordered.
Amazon Prime is 1 or 2 days and you know if an item is in-stock before
you order it.
It wasn't always so. Back in the '90s Amazon was an online book and CD
store, as was Barnes & Noble. I started using B&N after several
experiences where Amazon would take an order, send emails when the
delivery was delayed, and ultimately cancel the order when they couldn't
produce the goods. They were particularly bad with European CDs.
Amazon got their game together, B&N not so much, and Sears was snoozing
along in the 20th century.
There is a B&N brick and mortar store a block from where I work. They
managed to shoot themselves in the foot. I was looking for a programming
book they didn't have in stock. They said they could order it and would
have it in a couple of weeks at the full cover price. I went to their
web site and ordered for 10% less than the store price and free
delivery. Way to go! I still shop there -- around January 2 when I'm
looking for a half price calendar for the office.
A lot of that had to do with the fact that USPS parcel post took well
over a week to go damned near anywhere. It might take 3-4 days to get
to someone in your same zip code. The internal shipping delays at
Sears were a fixable problem. The problem was Eddie Boy bought Sears
as a real estate deal, not a retail sales deal and even he did not
grasp the idea that those brick and mortar stores would become
dinosaurs. The dirt under them is not nearly worth the price he paid
for them. I think he is just marking time, limping along trying to
minimize the cash bleed until real estate prices catch up to his
I had a big problem with Lowes. Ordered a stove and was told it would
take a month to 6 weeks for it to ship from the factory. That was ok as
the old one was fine, wife just wanted one with the convection oven.
We got a call (actually 2, automated and human) saying on a Wensday it
would be delivered from 4 to 6 in the evening. Waited and no show or
call. Called them. Some mixup at Lowes. The next week the same thing
hapened. I called them the next day and from looking on the internet
saw the store had a SS on in stock and not the white we wanted. Decided
to get the SS one and they did manage to get out that time when they
said they would. About 6 months later a friend bought a freezor from
them . Almost the same thing hapened to him.
I have ordered many things off ebay and most of them come in less than a
week if sent out. Some in the mail box, but a few larger items such as
two that went 60 pounds and was about 2x2x3 feet. Even got a 60 inch
TV from Best Buy delivered in a few days. They had a special service
for free where two people came out, unboxed it put it on the stand and
carried off the packing material and offered to carry off my old 40 inch
one. I am about 30 miles from the nearest BB store and ordered it on the
internet. I probably save $ 5 to $ 8 worth of gas by doing that.
Best Buy screwed me over on an oven. They jerked me along for about 8
weeks and then they suddenly canceled the order without telling me. On
my 9th weekly call they just said the order was canceled, my card was
credited and they were out of it. I never did business with them
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