Retail Watchers

Groceteria wrote: ↑March 23rd, 2022, 6:27 am Latest from the Greensboro Deathwatch. This store is still fully "open" (whatever that means now) and now features:

1. An ongoing fixture liquidation
2. Mattresses and damaged appliances now conveniently located on BOTH levels
3. Lots of clothing with Kmart price tags
4. Ugly Christmas sweaters galore

I saw a video on my local store thats left, Whittier CA. They have finally downsized the store to two levels (it is in a former 3 level Broadway store), meaning they are using maybe 80k sq ft now of the store. Its sparse. I cant see how it can last. Im sure that the Burbank store (Also 3 levels but built as a Sears) has to have downsized as well since the first floor doesnt connect to the mall while the upper two levels do. I'd be shocked if they havent downsized.

What is funny is at least Greensboro looks clean, the lights are all on, etc.

Some of these stores still open seem to be falling apart physically.

I cannot figure out the motivation or logic behind why they are open. How can these stores even be cash flow positive?

storewanderer wrote: ↑March 23rd, 2022, 11:09 pmWhat is funny is at least Greensboro looks clean, the lights are all on, etc.

It was renovated just a few years ago when a Whole Foods was carved out of maybe 1/3 to 1/2 of the lower level. The interior is in good shape aside from groaning escalators, but the exterior has some issues (peeling paint on the faux shutters, etc.) It's a huge freestanding store open ca. 1974 adjacent to a major regional open-air center.

The workers remain unfailingly polite and upbeat.

Maybe it's an ongoing conversion to a Sears Hometown or whatever, and while I applaud Hometown's expansion (even if it's now "larger cities that used to have a Sears" instead of "small towns that never had a Sears"), it runs afoul of indicating that a few larger stores would remain.

Yeah, this is probably overly optimistic but who knows?

pseudo3d wrote: ↑March 25th, 2022, 1:00 pm Maybe it's an ongoing conversion to a Sears Hometown or whatever, and while I applaud Hometown's expansion (even if it's now "larger cities that used to have a Sears" instead of "small towns that never had a Sears"), it runs afoul of indicating that a few larger stores would remain.

Yeah, this is probably overly optimistic but who knows?

If Hometown is truly the go forward format they need to get some merchandise into the stores. They need a deep mix of tools and other items to drive some foot traffic into the stores. The Hometown Stores suffer from the same lack of merchandise as the full size stores do.

They are sitting on hundreds of vacant store leases. Stores have been closed in the past few years that were obviously good performing stores if run correctly but this company decided rather than even try with the stores to just close them down and keep paying the lease. It makes no sense why they do this. It feels like cash for inventory is limited and they just keep slowly closing stores to raise cash from the inventory liquidation sales to keep the remaining operation going a little longer then keep closing more stores to raise more cash and repeat this process thousands of times.

Down to 3 Kmarts now!

Once a retail giant, Kmart down to 3 stores after NJ closing

https://www.seattletimes.com/business/o ... j-closing/

marshd1000 wrote: ↑April 11th, 2022, 3:29 am Down to 3 Kmarts now!

Once a retail giant, Kmart down to 3 stores after NJ closing

https://www.seattletimes.com/business/o ... j-closing/

Actually 9. 4 still in the USVI and 1 each in Guam and Puerto Rico.

submariner wrote: ↑April 12th, 2022, 5:52 am

marshd1000 wrote: ↑April 11th, 2022, 3:29 am Down to 3 Kmarts now!

Once a retail giant, Kmart down to 3 stores after NJ closing

https://www.seattletimes.com/business/o ... j-closing/

Actually 9. 4 still in the USVI and 1 each in Guam and Puerto Rico.

I thinkt hey meant just 3 left in the Continential US, AK and HI.

DFWRetaileWatcher wrote: ↑April 12th, 2022, 10:21 am

submariner wrote: ↑April 12th, 2022, 5:52 am

marshd1000 wrote: ↑April 11th, 2022, 3:29 am Down to 3 Kmarts now!

Once a retail giant, Kmart down to 3 stores after NJ closing

https://www.seattletimes.com/business/o ... j-closing/

Actually 9. 4 still in the USVI and 1 each in Guam and Puerto Rico.

I thinkt hey meant just 3 left in the Continential US, AK and HI.

I'll be curious to see if more Kmarts reopen as "Sears Hometown Plus." Their ad has the paper products/laundry detergent. Funny that store gets an ad yet the mainland US Kmarts did not get an ad circular for like the past 3 years. Priorities...

Any more closure updates? Been quite.