U. S. Vision closing some Sears Opticals

[mountainheart]

This morning, some employees of US Vision owned Sears Opticals were notified of store closings.

[Johns]

Interesting...

[Wes]

As in: the entire Sears store is closing? Sears and JC PENNEY are both in a world of hurt. If they close shop, the opticals in them will have to close or relocate.

[blindboy]

As in: the entire Sears store is closing? Sears and JC PENNEY are both in a world of hurt. If they close shop, the opticals in them will have to close or relocate.

Can't imagine relocating...although there are a very few free standing Sears Optical locations, (and a couple of weird KMart ones), the brand itself is in decline. The stores don't really even pay 'rent' right now, LUX pays a commission to Sears based on gross sales. And it's not really even a good commission.

[Johns]

A Sears Optical in one of my markets announced to their employees that although the Sear store was closing, the optical was moving to a free-standing location, and their jobs were all secured. The OD knew better and joined our practice.

The day the store closed, the manager informed the employees that there would be no move, that the optical was closing for good, and they should all look for other employment.

This just happened in December of 2012 (Happy Holidays)

Many of the traditional malls in this area have fallen on hard times, and it is not only the smaller stores that are closing, but also the large anchor stores like Sear, Macy's, and JC Pennys. It's not that the stores are that bad, it's just the retail environment they are located in. Within 25 mile radius of my main office, there are 3 large malls that have closed (all the way) or are in the process of closing down.

[OptiStudent]

I am not following this thread, I have always known Sears' Optical as Lux owned. JCP IS US Vision. USV JUST opened 2 new stores in Charlotte Belks.

[tdj]

I am not following this thread, I have always known Sears' Optical as Lux owned. JCP IS US Vision. USV JUST opened 2 new stores in Charlotte Belks.

USV owns a handful of Sears Opticals, though Lux owns the majority.

[Browman]

I've got faith in JCP's ability to pull back from the brink. Their problem is marketing, not product. Sears' non-hardware departments were selling stuff ten years behind for the same price as JCP and Dillards.

[Chris Ryser]

Retailers that will close the most stores
It is the time of year when America's largest retailers release those critical holiday season figures and disclose their annual sales.
A review of these numbers tells us a great deal about how most of the companies will do in the coming year. And while successful retailers in 2012 may add stores this year, those that have struggled may have to cut locations in 2013 to improve margins or reverse losses.


1. Best Buy
> Forecast store closings: 200 to 250
> Number of U.S. stores:1,056
> One-year stock performance: -36.8%


2. Sears Holding Corp.
> Forecast store closings: Kmart 175 to 225, Sears 100 to 125
> Number of U.S. stores: 2,118
> One-year stock performance: 8.8%.


3. J.C. Penney
> Forecast store closings: 300 to 350
> Number of U.S. stores: 1,100
> One-year stock performance: -53.6%


5. Barnes & Noble
> Forecast store closings: 190 to 240, per company comments
> Number of U.S. stores: 689
> One-year stock performance: 8.95%


6. Gamestop
> Forecast store closings: 500 to 600
> Number of U.S. stores: 4,471
> One-year stock performance: -2.2%


7. OfficeMax
> Forecast store closings: 150 to 175
> Number of U.S. stores: 872
> One-year stock performance: 80.8%


8. RadioShack
> Forecast store closings: 450 to 550
> Number of U.S. stores: 4,412
> One-year stock performance: -68.1%


See details ---------------------> http://www.usatoday.com/story/money/...-24-7/1873745/

[Browman]

Penney's is the lone wolf, in that it's problems are largely due to its inability to communicate well with its' customers. I never did understand why their change in "template" upset so many people. No, there are no longer any coupons; but did anyone ever put two and two together and realize that the discount was being passed along anyway? It's baffling from a common sense standpoint, but, if that's how the Penney's customer base thinks, it's the store's fault for not reacting accordingly.

The remainder of the stores all present much more inherent flaws.

Best Buy is quickly becoming irrelevant as anything other than a hardware provider, but they continue to dedicate significant floor space to music, video games, and movies, with the prices & selection being nowhere near competitive enough to warrant dedicating any space to them at all.

We've already discussed Sears. Failure to keep their products relevant and/or eliminate irrelevant products, with too little dedication to what was keeping them afloat.

Barnes and Noble-- I have to say I admire some of the strides they've made in keeping themselves relevant as a B&M in the age of Kindle and Amazon. Catering to the collector's market with collectibles and harder to find movies are steps in the right direction, but the movies are still bogusly overpriced and not that difficult to find cheaper online. (True story- I once had the choice between purchasing a hard-to-find DVD either at B&N online, or in the store. The store's price was nearly double the price for the same product on the store's own website. When I asked the manager about the price discrepency, I was told that it was "...for overhead. to keep the lights on." I can't imagine that answer flying well with many people). Nevertheless, they're still, at heart, a bookstore in an age where books' value, while not lessened, is changing.

Gamestop - As a child of the 80s, I have an intense love-hate relationship with Gamestop. Back in their Babbages/Software Etc./Funco Land days, they were the place to be. But as they slowly became the hyrda they've become, the stores stopped being hangouts and a place for gamers to find employment and instead turned into the software equivalent of the fast food world, where any slack-jawed teen or disgruntled recent college grad can get a job regardless of gaming knowledge. It's a total crapshoot if you'll find someone who can actually answer your questions, or someone who'll have to go track down the guy with the unruly facial hair and thick-rimmed glasses (!) who actually can. On top of that, their trade-in prices are pennies on the dollar, their "discounts" on used games usually run about 10%, and their store space seems to be shrinking to accomodate cardboard standees promoting the next blockbuster that everyone's going to buy anyway.

Office Max - Can we say Wal-Mart? I've got a lot of nostalgia for this place, because both of my parents had buying responsibilities for their respective offices and so weekend trips here weren't unusual. That said, they seem to be working on the same model they were on seventeen years ago. Their prices aren't competitive enough in a competitive marketplace, and their selection isn't unique enough for the average consumer. I can see them surviving by going the SamsClub route and catering primarily to individuals purchasing on behalf of companies, but not as someplace that Joe Blow goes to pick up a new printer for the house.

RadioShack - Their selections' not wide or competitive enough for the average consumer, not obscure or cabalistic enough to survive on the love of hardcore techies and American Otaku. They could be thriving, if they were willing to reinvent themselves beyond the ridiculous "The Shack" rebranding and insistence on pretending that they're the second coming of the Geek Squad.

[Johns]

Browman,

Nice analysis! I would add that Staples seems to be cleaning Office Max's clock, by providing better pricing, more knowledgeable employees, and reward programs for corporate accounts, and more locations in small markets. I know that there was talk of a merger between Office Depot and Office Max, although I'm not sure if that happened or not.

[Judy Canty]

Merger probably within the year.

[drk]

Browman, you should be a retail analyst. Good read.

[ERHALT1]

Have you heard of any closing in Columbus.