Author Topic: Sears, Kmart, Family Dollar Sales Plunge  (Read 368 times)

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Offline Olivia

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Sears, Kmart, Family Dollar Sales Plunge
« on: January 10, 2014, 03:48:50 PM »
Sears and K-Mart stores are facing major questions about their future plans after their parent company reported dismal sales for the holiday shopping season. Sears Holdings says it expects a loss of as much as $914 million for 2013. The struggling retailer also says its sales from stores open at least a year fell 7.4 percent for the quarter in the United States. Sears shares plunged in after-hours trading, falling nearly 14 percent.
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Despite signs of improvement for the U.S. economy, Sears and other low-end retailers had a miserable Christmas. Walmart shares are down nearly 3 percent in the past month. Family Dollar Stores Inc. cut its full-year profit forecast and announced a change in strategy. Family Dollar says it will act to cut prices and win back shoppers. The retailer says many consumers are struggling to make ends meet. “More than half of Family Dollar’s customers receive some sort of government assistance,” the Wall Street Journal reported today. The company says the debate in Congress over federal spending has reduced confidence among its customers.

http://abcnews.go.com/blogs/business/2014/01/sears-kmart-family-dollar-sales-plunge/

The Sears store at our local mall is closing and already having a liquidation sale. Everything today is marked down 10 percent.  Ha!
Truthfully, the most important thing in life is knowing what the most important things in life are, and prioritizing them accordingly.   Melchor Lim

Offline Chieftain

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Re: Sears, Kmart, Family Dollar Sales Plunge
« Reply #1 on: January 10, 2014, 04:15:46 PM »
The biggest retail disaster is the local K-Mart...the place has not been redone since the store was build decades ago, and they sell the worst low market merchandise they can lay their hands on.  At one time though, K-Mart was the premier department store and one of a kind.  But even the local competition re-designs the whole interior of their stores every five years or so....

I quit shopping at Sears years ago.  Sears used to have quite a reputation for tools, but too many of their power tools require non-standard parts that are only available through Sears, and there are far too many alternatives out there that have far superior products that are a lot easier to obtain.  Grizzly Tools is an excellent example.  They have three locations in the US and have the best shipping service I have ever seen.  Their annual tool catalog is better than any catalog Sears ever came out with, and they have an incredibly wide selection of power and hand tools that is hard to beat.  And if I need a belt for my Grizzly sander, I can find one locally without having to order the only one that will fit from Grizzly.

People can try to blame Wal Mart and the internet for the dramatic decline of K-Mart and Sears but terrible management from the stores on up is the real culprit.


Offline Olivia

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Re: Sears, Kmart, Family Dollar Sales Plunge
« Reply #2 on: January 10, 2014, 04:46:23 PM »

People can try to blame Wal Mart and the internet for the dramatic decline of K-Mart and Sears but terrible management from the stores on up is the real culprit.

You're so right.  Our local K-Mart is a disaster.  Crowded aisles and crammed merchandise.
The Martha Stewart line didn't help them either.  Overpriced bedding, linen, dishes, etc..

Truthfully, the most important thing in life is knowing what the most important things in life are, and prioritizing them accordingly.   Melchor Lim

Online mystery-ak

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Re: Sears, Kmart, Family Dollar Sales Plunge
« Reply #3 on: January 10, 2014, 04:55:46 PM »
« Last Edit: January 10, 2014, 04:56:13 PM by mystery-ak »

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