Sears is going down...

[T-Man]

My Grandfather retired from Montgomery Wards back in the 70's. He was hired on shortly after he returned from WWII, Luckily he made it it back alive, caught some shrapnel in the leg when the jeep he was driving hit a mine on just off the beach in Normandy on D-day. He woke up 3 days later in the hospital. He passed away in 1980 when I was 8 years old. For my birthday a year later and truck pulls up in front of my house and they drop off a gocart that he had purchased for me from Wards and was sitting is storage waiting for me with a happy birthday note on it. Neither my mother or my grandmother had any idea he had pre purchased it for me. They were both shocked and a little freaked out when the birthday card on it had his handwriting on it nearly a year after he passed away. Had alot of fun years driving that thing around and more than a few bumps, scrapes and bruises that any 9 year old boy with bigger balls than brains would get driving around a motorized toy. Too bad he wasn't still around at the time so I could thank him. Than again if he was still alive when it pulled up mt mother would of probably tried to make him return it.

 

[MattLock]

Sears never was a good comapany one time I came across a bait and switch scam on ther website not to metion puffery too. Also lots of consumer complaints they don't honor warranties

 

[hawgdawg]

My Grandfather retired from Montgomery Wards back in the 70's. He was hired on shortly after he returned from WWII, Luckily he made it it back alive, caught some shrapnel in the leg when the jeep he was driving hit a mine on just off the beach in Normandy on D-day. He woke up 3 days later in the hospital. He passed away in 1980 when I was 8 years old. For my birthday a year later and truck pulls up in front of my house and they drop off a gocart that he had purchased for me from Wards and was sitting is storage waiting for me with a happy birthday note on it. Neither my mother or my grandmother had any idea he had pre purchased it for me. They were both shocked and a little freaked out when the birthday card on it had his handwriting on it nearly a year after he passed away. Had alot of fun years driving that thing around and more than a few bumps, scrapes and bruises that any 9 year old boy with bigger balls than brains would get driving around a motorized toy. Too bad he wasn't still around at the time so I could thank him. Than again if he was still alive when it pulled up mt mother would of probably tried to make him return it.

Man this is a great story . I'm glad you shared it with us .

 

[DIGGER27]

Sears never was a good comapany one time I came across a bait and switch scam on ther website not to metion puffery too. Also lots of consumer complaints they don't honor warranties

They are a 130 year old company and they sure were great and honest at one time.
Millions of loyal repeat customers, as a matter of fact entire generations of families that were repeat customers and stores filled with employees that were proud to work there.
When they mention iconic this company was the definition...once.

They have been going down for years, what they are now is not even a shadow of what they were in the past and the games you describe are a more modern thing. With different leadership things could have been different but now, they're done.

 

[amc rulz]

Ha-ha I just remembered the Sears Catalog underwear model 'thingy' scandal from the '70's - anyone else? Can't go into detail on this forum -

 

[ugadigger]

Ha-ha I just remembered the Sears Catalog underwear model 'thingy' scandal from the '70's - anyone else? Can't go into detail on this forum -

[emoji15] lol page 602 lol


Sent from my detector via iPhone

 

[budaf250]

I remember as a teenager checking to see what they were selling when the blue light went on, and I remember the smell of fresh popcorn as some stores back then sold bags of fresh popcorn near the front of the store.

I just did a search online and it looks like the blue light specials are back.

View attachment 364590View attachment 364591

Calvin was a Blue Light special ?
View attachment 364592

I was seventeen and and K Mart was my very first job. I worked 2 weeks stocking shelves. And out comes a floor supervisor pushing a cart. All the sudden over the loud speaker they state that the blue light special was on socks. All the sudden I get knocked to the floor by a bunch of old ladies. I quiet on the spot. I am 66 years old and still have flash backs of blue flashing lights.

 

[GLASSHOPPER1955]

[emoji15] lol page 602 lol


Sent from my detector via iPhone

Yeah, the disgruntled worker. I remember that. Fall/Winter 1975:
http://www.grayflannelsuit.net/blog/old-vintage-sears-catalog-covers-gallery

 

[GKL]

I remember how all the old ladies would actually run with their carts to get there first, If you were in the path of any blue haired old woman when that light went on you were getting run over. Sad to see these companies fail, as a kid there was no better time than when the sears christmas catalog came in the mail.

I was seventeen and and K Mart was my very first job. I worked 2 weeks stocking shelves. And out comes a floor supervisor pushing a cart. All the sudden over the loud speaker they state that the blue light special was on socks. All the sudden I get knocked to the floor by a bunch of old ladies. I quiet on the spot. I am 66 years old and still have flash backs of blue flashing lights.

......it's like when the blue light started flashing you needed to take cover if you weren't heading for it yourself

 

[sllingshot47]

They have caused a boom for the toilet paper industry

 

[Digger-Dave]

I was seventeen and and K Mart was my very first job. I worked 2 weeks stocking shelves. And out comes a floor supervisor pushing a cart. All the sudden over the loud speaker they state that the blue light special was on socks. All the sudden I get knocked to the floor by a bunch of old ladies. I quiet on the spot. I am 66 years old and still have flash backs of blue flashing lights.

Buda, are you still traumatized to the point that where you choose not to stop for the flashing blue lights your rearview mirror?

 

[Digger-Dave]

The sears catalog was always such a big deal at Christmas. Almost everyone can remember flipping through the wonderment.

The usual season catalog was pretty cool too. Being a car guy, I remember looking at the complete exhaust systems and the variety of mufflers they offered.

Sears even sold automobiles back in the early 1950's called The Allstate. It was a Henry J Kaiser though.

 

[DIGGER27]

http://www.foxbusiness.com/markets/2016/12/08/sears-losses-mount-as-sales-continue-to-slide.html


"Sears Holdings on Thursday reported a $748 million quarterly loss as revenue and gross margin fell, extending woes for the struggling retailer as it continues to explore ways to monetize its key brands."


Chief Executive Edward Lampert said the company is "fully committed to restoring profitability,"

He has been saying this for years, the entire time he has done the opposite and destroyed this company instead.

"Sniff"...I smell someone's trousers smouldering.

 

[GLASSHOPPER1955]

Sears even sold automobiles back in the early 1950's called The Allstate. It was a Henry J Kaiser though.

They also had a version of the Vespa motor scooter in the 50s and 60s. One of my friends has one. It's badged "Allstate". This isn't his but it looks like this one:

 

[Detector Nut]

Closing stores,

http://www.businessinsider.com/sears-and-kmart-stores-closing-full-list-2016-12

K-mart closed in Iraq quite a few years ago....they just became Targets.

 

[fuzzytexan]

Yup I remember sears catalog being a staple at Christmas. I have many craftsman tools as well. However, I think they just failed to be innovative with retail shoppers, unfortunately mall shopping will likely not recover in some areas. Oddly enough our mall does fairly well and stays busy.


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[DIGGER27]

Well...they did it...

Craftsman has been sold to Stanley Black and Decker.
The tools have dropped in quality over the years, they are nothing like they used to be but still...sad to see this happen to an iconic brand.

http://www.businessinsider.com/sears-sells-craftsman-brand-for-900-million-2017-1?ref=yfp


"According to the agreement, Sears will get a cash payment of $525 million at closing and another $250 million after three years. Sears will also get annual payments of between 2.5% and 3.5% on new Stanley Black & Decker sales of Craftsman products"..

Just a drop in the bucket compared to how much money they are losing every quarter and won't make much of a dent in what they already owe.
They are losing close to this amount every 3 months with no end in sight.

"The company said Thursday that same-store sales at Sears and Kmart stores fell in the range of 12% to 13% in November and December, which are the first two months of the company's fiscal fourth quarter.

In the third quarter, Sears' revenue fell by 13%, to $5 billion, and losses widened to $748 million from $454 million in the period last year. The company said Thursday

Sears CEO Eddie Lampert has been loaning the company money to keep it afloat.

Over the past two years, Lampert and his hedge fund, ESL Investments, have loaned Sears nearly $2 billion to keep the business in operation, including a $500 million loan announced Wednesday."


This is not even taking into account the company's major problems with its underperforming pension plan.

The deal says they will get commissions on sales of all Craftsman products from Stanley for 15 years...I think this is probably a joke.

I doubt Sears will last beyond 2017.

Like watching a sick relative on life support with the family pushing the doctors to try anything and everything they can to prolong a life that in reality will never come back.
So sad.

 

[Big Treble]

SBD will be letting existing (key word) locations sell the craftsman line, but I just heard today Kmart (part of Sears Holdings)is closing 78 stores.

SBD is also building a new US manufacturing plant in the near future.

 

[GLASSHOPPER1955]

I just heard today Kmart (part of Sears Holdings)is closing 78 stores.

Yep! Both Kmarts nearest to me in Northern Indiana (LaPorte and Chesterton) are on the chopping block to close in March/April.

 

[ohiochris]

Yep , even Kmart is not the store it used to be. Now there is very little selection and the products on the floor look more like flea market fare. Ive been in Kmart stores in the past few years that had sections of the sales floor empty and roped off. With maybe some exceptions , most of the time when I go to a Kmart now its like going to dollar general. There was a time when Kmart was awesome , a fun experience with good deals on nice stuff , and a pretty good deli. Just about everything the store has been known for only resides in decades old memories. The original model of the large chain stores of its type became complicit in its own downfall. Sooner or later they all get cheap and ruin their own business.