2016 is in full swing and more retail news is underway. CVS appears to be now readying to take over Target's pharmacies for good.
However, the main news that continues to catch media attention (as well as my own) is Sears Holdings.
I have a love/hate relationship with Sears Holdings and after hearing the following news just makes me even more frustrated with the company. After having a disappointing holiday season, Sears' losses are so bad that their way to make up for it its to simply 'Close more stores' again. This will only work for so long. I've read a lot of web articles and it many professionals are thinking that 2016 may be the last year for the company. When referring to liquidation of remainder of the company, one expert said "It's not a matter of if, but when."
Obviously, we were all expecting this. I personally however was hoping to see Kmart and Sears be successful again. I also was hoping that they would try to improve their stores' image, but closing EVEN MORE stores does not help your image. I understand that store closures sometimes have to happen, even Walmart had too. Clearly all hopes of a revival for Sears Holdings have diminished with this news.
I would also like to take this moment to explain why I like and what I dislike about Sears Holdings. (Kmart in particular)
What I Like:
- Shop Your Way Rewards
- This program that Sears and Kmart use as a rewards program is a fantastic one. You earn points for everything you buy online or at either store as well as their partners for the program.
- Surprise points allow for surprise savings. In addition to having $11 worth in points, I was also able to save $6 the other day on one of my purchases because I had these surprise points. I ended up saving $17.
- contests that are available for all SYW members to enter for various prizes
- Little Caesars/ Nathan's Famous
- You also can earn SYW points through these restaurants if they are located inside a Kmart location.
What I Dislike:
- Lack of clearance for some product lines. One such product is LEGO. I visited my local Kmart today after having gone to the dentist. They were actively stocking the shelves in the toy department and because they aren't doing clearance for LEGO now, they are running out of space for any new product. Even the employees were starting to worry about this. There's a reason why stores put stuff on clearance!
(I was nice and helped them out by making some room for them. Hey employees, when a customer can find room you can't there's a problem. Also, you really shouldn't put the same set in two different spaces. However, I can only make so much room. They are reaching capacity and they didn't even get the newer set I wanted in!)
- Easing Off of Electronics
- Kmart has dropped electronics all together in some stores, while some stores have half of what they use to. Areas eliminated were made room for expanded selection for appliances. Which itself is not a bad idea, the problem is how Kmart handled adding an appliance department for most stores. Yet some locations still have a full electronics department and have a few random appliances nearby!
- Closing Cafe and their Creepy Condition
- If something isn't making a profit then its understandable that it closes. Kmart, however, in some cases may take a tacky route and leave the old space of cafes in the dark while still expecting customers to make their way to restrooms in the darkened area. Kind of creepy. Why not make this area appliances?
- At least some stores have the sense to turn the old area into additional floor space for store.
- REIT Reality
- I already expressed my opinion on this topic before. You can read it here.
Although it's likely not to change anything, if you would like to try to change this trend please help support the 'Stop Closing Kmart Stores' petition. There is also a Facebook page for the petition as well.
Sorry to go on a rant about this, but I have to vent somewhere!