No holiday cheer from Sears! What it means for 2012............................ ...

[Chris Ryser]

Just got an e-mail a minute ago, copy is here below.......................................

Dear Chris,
Just this morning, Sears announced it will be closing as many as 120 stores. That means thousands of U.S. jobs will be lost and it also spells more bad news for companies that do business with the country’s fourth largest broad-line retailer.
Sears said it would typically keep "marginally performing" stores open to give them time to improve, but the company basically said right now is not a time for waiting and seeing.
It’s really telling that Sears is actually closing stores that are operating within their respective margins ... because it indicates that the company expects more pain for the American economy in 2012 ... and it demonstrates that they’re taking steps NOW to prepare for it.

[chip anderson]

They ain't alone, K-Mart, Target, and many other chains are appearently closing store due to poor Christmas sales, lay aways, etc.
Of course we never really wanted these store to go away, just thier optical departments. Now how can we convince them that thier losses were a result of operating an optical department?

Chip

[Chris Ryser]

Billionaire investor Edward Lampert bought Kmart out of bankruptcy in 2003 and bought Sears, Roebuck & Co. a year later. Since 2004 Sears Holdings — which operates Kmart and Sears stores — has watched its cash and short-term investments go from about $2.09 billion for the year ended Jan. 31, 2004, to $1.34 billion for the year ended Jan. 31, 2011, according to FactSet. The figure now stands at about $700 million.

Read more: http://www.nwitimes.com/business/ret...#ixzz1hlrLVEmW

[AustinEyewear]

Just got an e-mail a minute ago, copy is here below.......................................

Dear Chris,
.....
It’s really telling that Sears is actually closing stores that are operating within their respective margins ... because it indicates that the company expects more pain for the American economy in 2012 ..

Lets hope not. Sears/KMart was already on the down and became a pretty bad place to shop a long time ago. My personal opinion is that Sears/KMart does not reflect the state of the economy, just the state of their own situation. According to their website they operate 4000 stores, so 120 stores is only 3% of their total stores, I'm sure there is some overlap between Sears/KMart in city regions and competition from WalMart and Target and other better run retailers has given Sears too much competition. Sears is in a rebuilding phase, and closing stores is typical of that, regardless of the state of the economy. I could go on, but suffice it to say I wouldn't let Sears be your scare factor concerning the economy going into 2012!

[David_Garza]

On the bright side:

TONS used equipment as well as NOS frames will flood the market soon!
Less locations to use the crappy VCPs that allow these retail opticals to tread water.

[Fezz]

Sears and KMart died years ago! They were too big, sluggish, or arrogant to see the light and adapt! Closing 3% if their stores seems like another poor management move. I am sure that they could really sharpen their knives and start really trimming some fat. But, they won't. They will end up being another one biting the dust!

I won't miss them when they are gone.

[Chris Ryser]

Sears and KMart died years ago!

Billionaire investor Edward Lampert bought Kmart out of bankruptcy in 2003 and bought Sears, Roebuck & Co. a year later. Since 2004 Sears Holdings — which operates Kmart and Sears stores — has watched its cash and short-term investments go from about $2.09 billion for the year ended Jan. 31, 2004, to $1.34 billion for the year ended Jan. 31, 2011, according to FactSet. The figure now stands at about $700 million.

Read more: http://www.nwitimes.com/business/ret...#ixzz1hlrLVEmW

[Fezz]

Exactly!

[DragonLensmanWV]

Everyone raise their hands that want's Craftsman tools to disappear!

Sorry, mine are firmly down.

[RIMLESS]

I don't think they will ever kill off the Craftsman tool line. For the past year or so I've noticed it being sold through other various retail settings like ACE hardware. Gotta luv them tools!!!!!!!!!!!!!!!

[optilady1]

I wonder what would happen to Land's End if Sears keeps going in the toilet. They are one of my favorite clothing lines. If they go the way of the dinosaur, I guess it'll be straight up LL Bean from now on.

[Chris Ryser]

I wonder what would happen to Land's End if Sears keeps going in the toilet. They are one of my favorite clothing lines. If they go the way of the dinosaur, I guess it'll be straight up LL Bean from now on.

optilady...................what would you do if your favorite and best selling frame would go off the market and you would be advised of it weeks ahead ?

You most probably would order 50 or 100 of them and get even a special discount and you would be ok for a glood long time. So why don't you buy 50 or 100 clothing lines and you will have enough to last until way after retirement.

[rdcoach5]

I wonder what would happen to Land's End if Sears keeps going in the toilet. They are one of my favorite clothing lines. If they go the way of the dinosaur, I guess it'll be straight up LL Bean from now on.

I didn't know Sears owns Land's End. I must say, I would miss Sears tools and their brand mowers, water heaters and such. I have always had good luck with their brands. They almost last too long which might be part of their problem. You can buy junk from a lot of places that is programmed to break.

[optilady1]

I didn't know Sears owns Land's End. I must say, I would miss Sears tools and their brand mowers, water heaters and such. I have always had good luck with their brands. They almost last too long which might be part of their problem. You can buy junk from a lot of places that is programmed to break.

Yeah, they bought them a few years ago, and unfortunately their quality when down hill a little with the purchase. But I'm nothing if not faithful, so I continue to buy their clothes, because how else can I be an uptight waspy New Englander if I don't dress the part? As far as the tools...I prefer kitchen tools to garage tools.

[Fezz]

I think that the real TOOLS are running that company!

[Chris Ryser]

How about their optical departments, there will also be optical employees out of a job, and Lux will be saving rent and loose a load of stores to sell discos to.