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Daily Archives: August 27th, 2018

This was on the books when MR. Lampert (Lamprey?) used his money making skills to combine the two companies and then under the guise of company improvements made changes counter to what would be normally done to create a better sales experience for customers, such as updating stores and fixtures, using the abilities of the existing workers. There was no true use of upper management (the best ones) to determine what is the correct course to follow. Then he (lamprey) lent millions to the company knowing they could not pay it back since there was no merchandise in any reasonable amounts to garner sales which is revenue to pay the loan back. Then there is the tactic of closing stores when their leases were up with the explanation that they were not profitable, those moves did not generate any revenue but saved the cost of leases and payrolls. The merchandise was shipped to some central location for liquidation and to existing stores rather than take care of seasonal merchandise needs. Essentially Mr. Lampert wants out and running the 2 companies into the ground was the way to do it.MA

By Tomi Kilgore

Published: Aug 27, 2018 1:02 p.m. ET

Shares fell toward a record low after tumbling nearly 40% so far this month

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Reporter and editor

Sears Holdings Corp. has provided a list of 46 unprofitable stores, across 28 states, that it will close in November.

The number includes 33 Sears stores and 13 Kmart stores. The struggling department store chain said liquidation sales at the closing stores will begin as early as Aug. 30.

Shares SHLD, +1.82%  bounced 0.9% in morning trade Friday, after slumping 5.9% on Thursday to close at a record low of $1.11. They have tumbled 39% this month and 89% this year. In comparison, the SPDR S&P Retail exchange-traded fund XRT, -0.56%  has run up 15% year to date and the S&P 500 index SPX, +0.76%  has gained 7.4%.

Earlier this summer, Sears provided an updated list of 78 Sears and Kmart stores that it said would close in September.

The company had originally said in May that it had identified 100 non-profitable stores, and that it would begin closing 72 of those stores in the coming months. At that time, Sears initially provided a list of 63 stores it would begin closing in early September, then updated that list in early June to 68 stores, then added 10 more stores to the list in late June that it said would begin closing in late September.

“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” the company said in a statement. “We thank associates affected by these store closures for their many contributions to our company. Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”


Here is the latest list of store closures:

Store Address City State
Sears Flagstaff Mall, 4800 N. US HWY 89 Flagstaff Arizona
Kmart 3625 East 18th St. Antioch California
Kmart 1075 Shaw Ave. Clovis California
Kmart 6310 W 3rd. St. Los Angeles California
Sears Capitola Mall, 4015 Capitola Rd. Santa Cruz California
Kmart 935 Sweetwater Rd. Spring Valley California
Sears 2424 Highway 6 and 50 Grand Junction Colorado
Kmart 589 Bridgeport Ave. Milford Connecticut
Kmart 301 College Sq. Newark Delaware
Sears 1625 NW 107th Ave. Doral/Miami Florida
Sears Coastland Ctr., 2000 9th St. N Naples Florida
Sears 2266 University Square Mall Tampa-University Florida
Sears 2860 Cumberland Mall Atlanta Georgia
Sears 100 Mall Blvd. Ste 300 Brunswick Georgia
Sears Oglethorpe Mall, 7810 Abercorn St. Savannah Georgia
Sears 1631 E Empire St. Bloomington Illinois
Kmart 3231 Chicago Rd. Steger Illinois
Sears 4201 Coldwater Rd. Fort Wayne Indiana
Sears 3000 Mall Rd. Florence Kentucky
Sears 1914 Hammond Square Dr. Hammond Louisiana
Sears 50 Holyoke St. Holyoke Massachusetts
Sears Silver City Galleria Taunton Massachusetts
Sears 1250 Jackson Xing 1-94 Jackson Michigan
Kmart 2308 Highway 45 N Columbus Mississippi
Kmart 11 South Kings HWY 61 Cape Girardeau Missouri
Sears 1500 South Willow St. Manchester New Hampshire
Sears 77 Rockingham Park Blvd. Salem New Hampshire
Sears 4409 Black Horse Pike Mays Landing New Jersey
Sears 1400 Union Tpke. New Hyde Park New York
Sears 578 Aviation Rd. Queensbury/Glen Falls New York
Kmart 605 Old Country Rd. Riverhead New York
Sears 200 Eastview Mall Victor New York
Sears 4601 Glenwood Ave. Raleigh-Crabtree North Carolina
Sears 9505 Colerain Ave. Cincinnati-Northgate Ohio
Sears 2700 Miamisburg Centerville Rd. Dayton Ohio
Kmart 440 NW Burnside Rd. Gresham Oregon
Sears 11800 SE 82nd Ave. Happy Valley/Portland Oregon
Sears Post Oak Mall College Station-Bryan Texas
Sears 400 Memorial City Way Houston-Memorial Texas
Sears 7453 S Plaza Center Dr. West Jordan Utah
Sears 12000 Fair Oaks Mall Fairfax Virginia
Sears 8800 NE Vancouver Mall Dr. Vancouver Washington
Kmart 101 Great Teays Blvd. Scott Depot West Virginia
Sears 4720 Golf Rd. Eau Claire Wisconsin
Sears Valley View Mall, 4200 US HWY 16 La Crosse Wisconsin
Kmart 2150 South Douglas HWY Gillette Wyoming
Sears Holdings

In Sears’ most recent public disclosure of Sears and Kmart stores counts, which was detailed in its quarterly 10-Q filing with the Securities and Exchange Commission, there were 894 full-line and specialty retail stores in the U.S. as of May 5, 2018.

Don’t miss: Yes, Sears is likely to collapse, but its biggest stakeholder will be just fine.
See also: Sears adds more merchandise to online marketplace, and Sears CEO’s hedge fund offers to buy Kenmore brand for $400 million.

Do we really need another liar in Government? MA
Associated Press 13 hours ago

PHOENIX (AP) — Hours before Sen. John McCain died on Saturday, a Republican seeking Arizona’s other U.S. Senate seat suggested that his family’s earlier announcement that he was ending cancer treatment had been timed to hurt her campaign.
Former State Sen. Kelli Ward, who lost a primary to McCain running from the right in 2016 and is now trying to win the GOP nomination for retiring Sen. Jeff Flake’s seat, made the suggestion in response to a Facebook post by a campaign aide.
According to screenshots of the conversation posted on Twitter by Arizona political reporters, the aide, Jonathan Williams, wondered if it was “just a coincidence” that the announcement of McCain ending medical treatment came the day Ward was launching a statewide bus tour, her big push before Tuesday’s primary.
Ward replied: “I think they wanted to have a particular narrative that is negative to me.”
After her response was Tweeted out, Ward deleted the post and replaced it with one claiming the media was concocting a story.
“I’ve said again and again to pray for Senator McCain & his family,” Ward wrote. “These decisions are terrible to have to make. I feel compassion for him and his family as they go through this.”
Ward has acknowledged she is the underdog in Tuesday’s primary. She faces Rep. Martha McSally and former Maricopa County Sheriff Joe Arpaio.
A message left with Ward’s campaign office on Sunday morning was not immediately returned.


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