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SempCAL


Joined: 26 Jan 2004
Posts: 200
Posted: Mon Aug 04, 2008 3:55 pm    Post subject: Big Retailers at Risk of Store Closings  
http://money.aol.com/investing/big-retailers-which-may-close-or-downsize

Doh!
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Mon Aug 04, 2008 4:06 pm    Post subject:  
Yep, no surprise that Sears tops that list.
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Tue Aug 05, 2008 1:30 am    Post subject:  
EDIT TO BE CLEAR: (side comment on the messenger, not to be confused with the 'message') Its hilarious that that report was compiled by the online bubble disaster that is AOL.


COMMENT ON THE MESSAGE ITSELF:

Circuit City is definitely next up for Chapter 7

Sears will probably shed some weak stores, as well it should.... If a location is losing money, and has been marginal for some time, its time to say good night.

Last edited by Major Appliance on Tue Aug 05, 2008 4:43 pm; edited 1 time in total
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Tue Aug 05, 2008 1:47 am    Post subject:  
Major Appliance wrote:
Hilarious that that report was compiled by the online bubble disaster that is AOL.

Circuit City is definitely next up for Chapter 7

Sears will probably shed some weak stores, as well it should.... If a location is losing money, and has been marginal for some time, its time to say good night.


Hilarious? Nothing hilarious about it that I can see. If I'm reading the story right. AOL didn't "compile" squat, but only printed an analysis from 24/7 Wall St.
Quote:
24/7 Wall Street takes a look at 8 larger retailers that are in real trouble. Some are at risk for bankruptcy and each of them could have to cut operations so much that their revenue would be a fraction of what it is now.

Click through our gallery to see which well-known companies 24/7 Wall St. thinks are the most likely candidates for closing, at least some, store doors.


http://www.247wallst.com is a well known financial analysis web site and is quoted quite often by analysts and pundits and even old grouches like me (I link to them quite often myself on this forum).

I'm not saying they're right and you're wrong but if I was in a position to bet the farm on a financial analysis of various retail companies, I think I'd go with the real deal based on the fact that they do it for a living and... you don't.
Wink

Last edited by Nofsdad on Tue Aug 05, 2008 1:50 am; edited 1 time in total
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Tue Aug 05, 2008 1:50 am    Post subject:  
*rollseyes*

Seriously man... its pretty funny to read a 'troubled company' report on AOL, regardless of who the companies are.

I guess irony is just lost on you.
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vickers


Joined: 14 Jul 2006
Posts: 332
Posted: Tue Aug 05, 2008 1:54 am    Post subject:  
Huh, I know this is a bit OT, but I was surprised to see Blockbuster on there. I like that place...I go there a lot. I guess it's the way society and entertainment is changing, and going more on line.

I'll admit, it made me sad to see Sears at the top of the list, but the rest of the list pretty much made sense especially Circuit City. I feel for the folks working there. I knew they were going to go belly up soon when they laid off all those workers last year. (well, not yet, but it sure seems like it.)
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Tue Aug 05, 2008 1:54 am    Post subject:  
Irony? You attempted to discredit a report based on a false assumption on YOUR part and and now you're trying to pass it off as irony? Now THAT's irony,

Very Happy Very Happy
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Tue Aug 05, 2008 1:56 am    Post subject:  
Blockbuster is on the list, so how can it be off topic?

Their problem is rapidly changing technology more than anything else.
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vickers


Joined: 14 Jul 2006
Posts: 332
Posted: Tue Aug 05, 2008 2:08 am    Post subject:  
Confused

That's why I only said it was a bit OT. This is a forum to discuss Sears, not Blockbuster. I guess our definitions of topic-ness differ.
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Tue Aug 05, 2008 2:42 am    Post subject:  
Nofs: I never attempted to discredit a such thing. I made a remark about something that I thought was amusing, but you just have take every single thing I say as some sort of personal offense to you.

On the other hand, if your knickers are in a twist (yet again... or, as usual) I guess I really shouldn't be all that surprised.

How about this: take everything I post with a grain of salt, a bit tongue in cheek... a spot of ribaldry. Perhaps that will lower your blood pressure. k? thx.
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LeadNoMore


Joined: 14 Jul 2008
Posts: 14
Posted: Tue Aug 05, 2008 7:23 am    Post subject:  
I got to work today and was telling the associates and some of the staff and leads and they were like what.... they all ran to the computers type up aol.com and was shocked even the sgm was like no must be a joke until she saw it online and just said well get ready... I looked at the asm and said for what... she goes to start looking for another job since we dont know which stores they will be closing.
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Tue Aug 05, 2008 2:54 pm    Post subject:  
Major Appliance wrote:
Nofs: I never attempted to discredit a such thing. I made a remark about something that I thought was amusing, but you just have take every single thing I say as some sort of personal offense to you.

On the other hand, if your knickers are in a twist (yet again... or, as usual) I guess I really shouldn't be all that surprised.

How about this: take everything I post with a grain of salt, a bit tongue in cheek... a spot of ribaldry. Perhaps that will lower your blood pressure. k? thx.


http://www.retail-worker.com/forum/viewtopic.php?p=89198#89198
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dictators_rule


Joined: 08 Jul 2003
Posts: 5005
Posted: Tue Aug 05, 2008 4:53 pm    Post subject: trendy  
Most of the stores mentioned you have to be on the 'trendy' except for Sears and Blockbuster

.Even at CC you need to have the latest and greatest in HE:at a good price.Can't even sell the service agreements if you don't sell the product first.CC has admitted to this.

Sears with the cheap leases I don't think will close as many stores as people think.And if certain stores are loosing money but big PA producers I don't it will happen.But if the bottom drops out drastically rather than the slow agonizing drop it might happen.
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quagmire


Joined: 30 Oct 2007
Posts: 39
Posted: Tue Aug 05, 2008 5:11 pm    Post subject:  
well as i said a year ago and have been critized by some of the big talkers here, well i hate to say i told you so well see who people will beleive now right pz gd might i forgive you guys
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Tue Aug 05, 2008 5:28 pm    Post subject:  
Quagmire, what's your problem?
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Nofsdad


Joined: 06 Jul 2003
Posts: 7087
Location: Central CA
Posted: Tue Aug 05, 2008 5:48 pm    Post subject:  
The Macy's board has a good thread going on this subject, one that illustrates that many of the problems besetting Sears are affecting other retailers and service sector businesses also.

http://www.retail-worker.com/forum/viewtopic.php?t=9608

It's extremely interesting to me that the companies that seem to be doing better than the sector wide average are those that have managed to maintain a loyal and dedicated work force by some means other than just demanding that it be so in spite of the treatment being dished out.

I guess as opposed to some who simply walk up and tell you that they're taking half your income in the form of reduced commissions, whacked hours, lower 401k contributions, increased health insurance premiums and stolen pensions (to finance the CEOs hundred million dollar golden parachute) and then tell you that they expect you to be twice as productive from now on to make up for it.
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allhandsabandonship


Joined: 28 Apr 2005
Posts: 1718
Posted: Tue Aug 05, 2008 9:33 pm    Post subject:  
Nofsdad wrote:

It's extremely interesting to me that the companies that seem to be doing better than the sector wide average are those that have managed to maintain a loyal and dedicated work force by some means other than just demanding that it be so in spite of the treatment being dished out.



Very interesting indeed. Somehow cold hard economic reality forced these companies in a different direction. Most front line employees get a glimpse of the problem pretty quickly. It doesn't take too many botched sales to erase any benefits of cost cutting. It's especially problematic at Sears where they insist on staying in complex lines of business and trying to pay McDonalds wages.
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GoodFella


Joined: 04 Jul 2003
Posts: 2205
Location: A little bit sideways!
Posted: Wed Aug 06, 2008 4:47 am    Post subject:  
quagmire wrote:
well as i said a year ago and have been critized by some of the big talkers here, well i hate to say i told you so well see who people will beleive now right pz gd might i forgive you guys


We all know stores are going to close. But your time-line on all your predictions has been a bit off.

http://www.retail-worker.com/forum/viewtopic.php?t=8507&highlight=
Quote:

quagmire


Joined: 30 Oct 2007
Posts: 17
Posted: Thu Jan 24, 2008 11:14 pm Post subject: Store Closings

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Make no mistake stores will be closing as they continue to restructure especially mall stores. Many stores starting with the Northeast region are already targeted for deselection between march 2008 to june.Many upper management have already had the sneek peek look at the confidential hot list of closings. But this is no surprise to most of us if you have been watching the events of the last 3 years it was bound to happen sooner then later. So make plans early folks with the economy getting tough its no time to be out of work.Though unemployment probably equals about what sears pays. Good luck all


http://www.retail-worker.com/forum/viewtopic.php?t=8602&highlight=
Quote:
quagmire


Joined: 30 Oct 2007
Posts: 17
Posted: Thu Jan 31, 2008 2:55 pm Post subject: Update Store Closings!!

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Well as predicted The Northeastern regional DMs were informed that many Sears Hardware stores will be closed by the end of March 2008. Also many Mall stores such as newberg NY is to be deselected due to under performing and others in Mass Ct and Ri as well. The affected stores Dms were told to make a exit plan and list for the liquidation sale and items to be shipped back to distribution centers. Many managers are suggesting the sale be called the End of Sears Days Sale. Surprised


http://www.retail-worker.com/forum/viewtopic.php?t=8615&highlight=

Quote:

quagmire


Joined: 30 Oct 2007
Posts: 17
Posted: Fri Feb 01, 2008 10:35 pm Post subject: Update Store Closings!! Part 2

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JUST to keep everyone up to speed on the constant crisis situation known as Sears it was mentioned in the SGM conference call that the deselected stores will have to offer full time associates positions at the closest K mart or Sears store within 50 miles of the present store part time of course. If a associate refuses position they will be layed off but unable to receive unemployment benefits due to the fact that sears as offered them employment and the associate refused suitable work. This will keep the cost down for sears which is desperate to cut 20 % for the first quarter. I,am sure everyone is feeling the pressure from all directions esp associates who are being beaten up about the PAs MRAs and credit this is being done to save your managers jobs not yours so hang in there other then newberg and torrington stores closing will probably know more next post

http://www.retail-worker.com/forum/viewtopic.php?t=8260&highlight=

Quote:

quagmire


Joined: 30 Oct 2007
Posts: 17
Posted: Mon Dec 03, 2007 12:12 am Post subject: Sears hardware sotres going commission jan 1

--------------------------------------------------------------------------------

letter came fri in a northeast district store that effective jan 1 all sears hardware and appliance stores will have commision sales assoc in order to increase profit line very hush hush top secret letter to district managers only. so if you are a hardware store asso welcome to hell flooded sales floor and fighting with your co workers for $1.50 commission or starve crappy holidays from sears Embarassed


Please don't make me dig all this up again.

We all know the end is almost here. And yeah I'm sure many stores will close. But by just making shit up and posting it here your just part of the problem. That's all. GoodFella
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WTF-Ben Dover


Joined: 31 Jan 2008
Posts: 211
Posted: Wed Aug 06, 2008 2:36 pm    Post subject:  
Nofsdad wrote:
Major Appliance wrote:
Nofs: I never attempted to discredit a such thing. I made a remark about something that I thought was amusing, but you just have take every single thing I say as some sort of personal offense to you.

On the other hand, if your knickers are in a twist (yet again... or, as usual) I guess I really shouldn't be all that surprised.

How about this: take everything I post with a grain of salt, a bit tongue in cheek... a spot of ribaldry. Perhaps that will lower your blood pressure. k? thx.


http://www.retail-worker.com/forum/viewtopic.php?p=89198#89198


I solely believe Nofs that MA and Mastershake are roommates..
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Wed Aug 06, 2008 3:12 pm    Post subject:  
I solely believe Nofs that MA and Mastershake are roommates..

What would lead you to that conclusion?
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ratmaze


Joined: 05 Dec 2007
Posts: 280
Posted: Wed Aug 06, 2008 5:27 pm    Post subject:  
I know there is a good chance my store is one to be closed. I found out two bits of information that I know isn't rumors that puts our store on the path of closing so it's only a matter of time when they will announce it.

I know we've talk about this before (but I can't find the thread at the moment) I'm fta if they ofter me pt at another store and I take it can I collect the little bit of unemployment or does that work only if I'm fta and they cut my hours a lot? I'm just trying to get my ducks in line. I'm going to do a lot of research so I know what I'm up against. Thanks for any help.
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MastaShake1108


Joined: 11 Apr 2007
Posts: 353
Posted: Wed Aug 06, 2008 6:00 pm    Post subject:  
WTF-Ben Dover wrote:
Nofsdad wrote:
Major Appliance wrote:
Nofs: I never attempted to discredit a such thing. I made a remark about something that I thought was amusing, but you just have take every single thing I say as some sort of personal offense to you.

On the other hand, if your knickers are in a twist (yet again... or, as usual) I guess I really shouldn't be all that surprised.

How about this: take everything I post with a grain of salt, a bit tongue in cheek... a spot of ribaldry. Perhaps that will lower your blood pressure. k? thx.


http://www.retail-worker.com/forum/viewtopic.php?p=89198#89198


I solely believe Nofs that MA and Mastershake are roommates..


Well, I believe you're a douchebag, but I guess we're all entitled to our opinions, right?

By the way - you're still wrong. Always. Very Happy Just to make you feel better at night.

I may disagree with Nofs on alot of things, but at least I can respect him. You? Not a snowball's chance. Further - I've disagreed with Major on a number of things too...like the Barack Hussein Obama bit - I know you were joking, but it still grinds my gears.

And people talk about how others take threads off topic. Really?

Don't frickin' draw me in just to play your little games. I will bite back.
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Major Appliance


Joined: 09 Feb 2008
Posts: 1292
Location: Brand Central
Posted: Wed Aug 06, 2008 6:47 pm    Post subject:  
Actually, I do believe you meant "sorely", and not "solely"

I'm sure it was a typo.

Hey MS: I'm in Florida, what state are you in again?
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WTF-Ben Dover


Joined: 31 Jan 2008
Posts: 211
Posted: Wed Aug 06, 2008 8:23 pm    Post subject:  
MastaShake1108 wrote:
WTF-Ben Dover wrote:
Nofsdad wrote:
Major Appliance wrote:
Nofs: I never attempted to discredit a such thing. I made a remark about something that I thought was amusing, but you just have take every single thing I say as some sort of personal offense to you.

On the other hand, if your knickers are in a twist (yet again... or, as usual) I guess I really shouldn't be all that surprised.

How about this: take everything I post with a grain of salt, a bit tongue in cheek... a spot of ribaldry. Perhaps that will lower your blood pressure. k? thx.


http://www.retail-worker.com/forum/viewtopic.php?p=89198#89198


I solely believe Nofs that MA and Mastershake are roommates..


Well, I believe you're a douchebag, but I guess we're all entitled to our opinions, right?

By the way - you're still wrong. Always. Very Happy Just to make you feel better at night.

I may disagree with Nofs on alot of things, but at least I can respect him. You? Not a snowball's chance. Further - I've disagreed with Major on a number of things too...like the Barack Hussein Obama bit - I know you were joking, but it still grinds my gears.

And people talk about how others take threads off topic. Really?

Don't frickin' draw me in just to play your little games. I will bite back.


"I will bite back"

Blllaaaaa, meh... Your puny statement/threat is highly laughable at best, but perhaps, did I strike a nerve there ShakeMaster?

"By the way - you're still wrong. Always. Very Happy Just to make you feel better at night." Hmmmm..Reallly...?

Yours Truely,

Mr. "Douchebag"
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WTF-Ben Dover


Joined: 31 Jan 2008
Posts: 211
Posted: Wed Aug 06, 2008 8:25 pm    Post subject:  
Major Appliance wrote:
Actually, I do believe you meant "sorely", and not "solely"

I'm sure it was a typo.

Hey MS: I'm in Florida, what state are you in again?


No, no typo at all. I meant Solely

Solely - 1 : without another, 2 : to the exclusion of all else
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