More Bad News for Sears/Kmart  

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vicanuck
(@vicanuck)
Trusted Member

It appears that Sears unit in Canada is about to collapse and probably won't make it to the end of the year.

We already know the US Sears and Kmart stores are in just as bad shape.

http://business.financialpost.com/news/sears-canada-raises-doubts-about-its-ability-to-continue-as-cash-crunch-worsens

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Posted : June 13, 2017 5:12 pm
speee1dy
(@speee1dy)
Expert

sign, it seems to be the way for a lot of brick and mortar stores these days.

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Posted : June 14, 2017 10:51 am
Scubadoo
(@Scubadoo)
Trusted Member

But not all. HHGregg closed recently. A few months before that another chain store looking similar and selling the same sort of stuff opened in our area in the states.

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Posted : June 14, 2017 11:01 am
singlefin
(@singlefin)
Trusted Member

Hopefully Walmart moves in quickly. Considering their huge presence in Puerto Rico, an expansion into the USVI seems like a no-brainer. Especially since our Kmart was one of only a few in the entire country that still made a profit.

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Posted : June 14, 2017 11:49 am
speee1dy
(@speee1dy)
Expert

not walmart, their clothes quality isnt that good

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Posted : June 14, 2017 2:21 pm
singlefin
(@singlefin)
Trusted Member

I just hope some other big chain moves in.
It's the only big chain store we've got.

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Posted : June 14, 2017 7:20 pm
vicanuck
(@vicanuck)
Trusted Member

And the Little Caesars...I'd miss that more than the Kmart!

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Posted : June 14, 2017 8:09 pm
Scubadoo
(@Scubadoo)
Trusted Member

All of the Walmart stores in the states seem to be made in the same mold. Stand alone building, outside walls, inside ceiling heights, store layout, even the cart corals. I don't know about PR. They may not wish to physically move into the same old building as either Kmart. Would be interesting to see if they would invest in building a new building to their mold.

Target may be another option. Their buildings have their own mold as well but lots of them in shared buildings like our Kmarts.

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Posted : June 15, 2017 1:46 am
JohnnyU
(@JohnnyU)
Advanced Member

Walmart has multiple molds from 2 story super centers to their express/neighbothoid market. Ditto Target.

Both view Amazon as their competition, not each other and are throwing a lot of money in that direction.

Best case is WM takes over the KM @ Sunny Isle and installs a neighborhood market. Mapp will screw that oppertunity

Target would sooner go back into Canada Vs move into the Caribbean

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Posted : June 15, 2017 3:38 am
Pammerjo
(@Pammerjo)
Advanced Member

I'd be down with a Walmart.

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Posted : June 22, 2017 7:15 am
Scubadoo
(@Scubadoo)
Trusted Member

Sears will close another 20 stores this year across 14 states

The closing locations include two Kmart and 18 Sears stores.
But not in VI yet.

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Posted : June 24, 2017 11:12 pm
Gumbo
(@Gumbo)
Advanced Member

Everything in Kmart (tutu park mall) is 10% off. The lady working in the electronics department said the store is closing.
Hope Not, but it doesnt look good.

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Posted : June 25, 2017 1:31 am
speee1dy
(@speee1dy)
Expert

i hope not too

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Posted : June 25, 2017 12:18 pm
Exit Zero
(@exit-zero)
Trusted Member

maybe Woolworths will be resurrected ?

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Posted : June 26, 2017 12:37 am
Scubadoo
(@Scubadoo)
Trusted Member

and Gimbels

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Posted : June 26, 2017 1:46 am
speee1dy
(@speee1dy)
Expert

the big k out west was all on sale too

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Posted : June 26, 2017 10:56 am
sttanon
(@sttanon)
Advanced Member

BIG sign on side of Lockhart Kmart, everything 10-40% off

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Posted : June 26, 2017 3:31 pm
Gumbo
(@Gumbo)
Advanced Member

I was told today, It was a Fathers day sale. Now a pre 4th of July sale and unless sears folds in the states. Kmart will not close in the VI. So thats good news.

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Posted : June 26, 2017 6:11 pm
vicanuck
(@vicanuck)
Trusted Member

I was told today, It was a Fathers day sale. Now a pre 4th of July sale and unless sears folds in the states. Kmart will not close in the VI. So thats good news.

Maybe you haven't read a real mainland newspaper for a while.

All Sears and Kmart stores will close eventually.

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Posted : June 26, 2017 10:15 pm
Gumbo
(@Gumbo)
Advanced Member

I was told today, It was a Fathers day sale. Now a pre 4th of July sale and unless sears folds in the states. Kmart will not close in the VI. So thats good news.

Maybe you haven't read a real mainland newspaper for a while.

All Sears and Kmart stores will close eventually.

Actually I believe that is true, I think they will hold on in the VI to the end. It seems an easy market for Walmart, since they are established all over PR. They are closing the small Kmart in Lockhart Gardens very soon. How many are on STX? As big as it is I would think two.

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Posted : June 26, 2017 11:02 pm
East Ender
(@east-ender)
Expert

Do you get the feeling that they are shipping the stock from the closed stores in America down here?

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Posted : June 27, 2017 12:11 am
Scubadoo
(@Scubadoo)
Trusted Member

We have two on STX. One is expected to close before the end.

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Posted : June 27, 2017 12:23 am
Gumbo
(@Gumbo)
Advanced Member

Do you get the feeling that they are shipping the stock from the closed stores in America down here?

I bet thats exactly what is going on,
At VI prices it makes sense.

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Posted : June 27, 2017 12:39 am
vicanuck
(@vicanuck)
Trusted Member

I've related this story here previously. But, I was shopping at Kmart east a few weeks ago and noticed that a lot of the usual health and beauty inventory was depleted. My wife and I asked one of the floor personnel when they were going to get this and that on the shelves.

The lady stated that the only inventory coming into the store now was coming from other stores on the mainland that were closing or were closed.

After that's gone, she said, it's anyone's guess what will happen next.

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Posted : June 27, 2017 11:10 am
sttanon
(@sttanon)
Advanced Member

I was told today, It was a Fathers day sale. Now a pre 4th of July sale and unless sears folds in the states. Kmart will not close in the VI. So thats good news.

The sales are not father's day sales. 10-40% sales aren't sales, they are preps for liquidation....... There was a article in daily news regarding Kmart. They have directed stores that are closing to begin liquidation sales starting no later than June 30th. Said stores will close doors in September............

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Posted : June 27, 2017 1:05 pm
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