I was listening to a Moody's (Investor Research) report... at how they were operating at a loss every year, and I was just beyond shocked. How in the world does a retail chain operate a loss and continue to stay open? It also doesn't help that some of their corporate bonds (debt) is rated highly speculative. That makes the cost of borrowing money relatively expensive, compared to other retailers. It sounds as though they are just running through reserves from what I understood...

Keep in mind.. most of there stuff happened before I was even born, but I think the chain in particular suffered from trying to open as many (Kmart) stores as physically possible in the 80's and 90's... and not maintaining their existing stores. You know... a store that looks like it's from the 90's, may have played out decently in 2003, but in this day and age.. people just find that really unappealing. They built too quickly, and didn't bother to maintain this entire field of junk they created.

I will say.. the chain isn't particularly bad in a sense, but very poor management and very poor handling of decisions have led them to this path. And quite frankly, I'd love to see some other retailer like Target, or Meijer take the entire thing over. My entire generation truly despises the place, and there's nothing you can do about it.

In some areas... I'll say, they have very, very valuable real estate. They could sell a lot of it, and probably develop a nice chunk of savings to keep the operation going longer, or keep one chain open. Beyond that.. I really don't know what else to say.

I remember shopping there when I was really young, and it wasn't anything I particularly cared for. I've been to a few stores in between now and then, and while I've been able to find a few things.. I'm not sure I'll miss it truly.

And if any of you want to bash me for this, I totally understand. I just wasn't around for the "prime" days of the chain.

Mitch...I personally never found K-Mart to ever have "prime" days. The chain was always the butt of jokes, and I have always somewhat hated it.

I had ridiculously bad service from Sears on two coasts and refused to ever buy anything from them again. I am sorry that people will be out of work though. That is awful. What will happen to the kenmore appliance warranties I wonder?

We have purchased all our major appliances from Sears and have had good service. Our extended warrantee on the Samsung FL expires in November. I got an offer to renew it for up to 3 years Saturday. Now I wonder if they will be here to honor it.

They operate at a loss and continue to stay open because they have a lot of long-term leases and bankruptcy is an awful option when they could go out to investors and keep borrowing money instead.… What I never understood is why they needed to operate at a loss. A lot of it had to do with really poorly performing employees and they could easily have been trained. In fact it seems to me that in my neighborhood they have been trained in the last year or two but not for the prior 15 years...

Back in the day.... in the mid 80's I worked part time for Kmart, seasonal in the Garden Shop and sometimes I would stay on thru Christmas. I was somewhat bored staying at home and it got me out of the house. I actually loved working for them and they were good to me. I have been somewhat sad to see their downfall over the years since then....I will be making a trip to stock up on a few more bath towels while I can still get them. Kmart is the only place I can find Cannon bath towels and I love them. 100% cotton and they actually absorb water great. They hold up well and don't fade at all and you sure can't beat the price.

I have great memories of shopping at Sears with my dad when I was little, for paint, tools and the candy bar for hot redskin peanuts.

crl_, nerdyshopper, one of the articles I read stated Sears was considering selling off its appliance division, the Kenmore brand in particular. That may save at least that part of the legacy.

Two latter day occurrences that may be related are the tendency to view merchandise in person at a brick and mortar outlet - and then go home and order it from an online supplier, with malls having become places to eat rather than shop. And the declining fortunes of the non wealthy that were probably always a core customer group for these two stores. Well, K-Mart at least.

The Kmarts near us closed a couple of years ago.I'm sorry about Sears, but sadly, it has become the poster child for how not to run a business.

Around here it seems we had a few K-Marts first and then eventually it was Wal-Marts everywhere, after which K-Mart basically didn't exist - I haven't been able to say where to find one for many years.

MiMi, many, many, many years ago my best friend bought her Cannon towels and sheets at Sears and they were the best. We're talking 40 years or so. That was really "back in the day."

We used to always get our mowers and appliances from Sears. It never was a clothing store option for me, neither was Kmart. I never liked Kmart, it just always seemed like such a low class place to shop.

Kmart has carried a lot of decent things thru the years. I never felt like Kmart was low class..certainly not TOL ...but their clothing although not the nicest sure beats Walmarts clothing that IMO is the poorest quality on the market.

Walmart and Target are kicking Kmart and Sears butt.

This is company specific and has very little to do with the overall economy.

JC Penny just started selling appliances again. If Sears does go out of business it would be nice to see JC Penny buy Kenmore Appliances. Remember Kenmore is just a brand not a manufacture. They just put their badge and styling on other companies products sometimes requesting added features.

Another major PITA for Sears appliances is that Costco has started selling major appliances. 2-3 options for each major appliance at my local store, so not a direct competitor but still must keep Sears executives up at night.

From what I read Appliances is the only profitable segment for Sears.

Last time I was in a K-Mart store, the whole place reeked of some cleanser/solvent smell. There was no evidence of any remodeling or painting or other work going on, but the store smelled of something industrial. This was a couple of years ago, and I felt ill every time I even drove by the store, the reflex was so bad.

Sears has been in a crisis state since the 90s. Tools and appliances have kept them going. Sears tried branching out into home town stores which made sense but the 2 near here which sold just appliances and tools are closing soon. They are franchises which I found interesting. The only Kmart stores anywhere near me are in low income areas. Basically not in places the disposable income crowd is going to go. Does Sears still own Land's End? At one point they also had a lot of financial holdings, Discover and insurance but I think those disappeared during reorganization.

sandy, Lands' End was spun off in 2014 to raise capital. Business Insider- Sears

We have one of those Sears home stores near where I live. I don't know if it's closing or not. They sell appliances and the Sears Ultra Plus in the bucket and liquid.

Within the last 20 years, I've only shopped at Sears a handful of times. My Duets were purchased there, and Craftsman tools, but I really see no other reason to go into a Sears.

Oh dear - I better get over there and stock up. That is the only detergent I've ever used since I bought my first FL at Sears years ago. It's the only reason I ever go to Sears though I have found a few good buys on basic clothing items when I wandered through the store on my way to detergent.

My local K-Mart just got the word it was one of two Massachusetts stores closing this October 2017 :(

Jeff

Yeah, I read this morning that something like 48 more Sears and Kmarts are closing by November. I am shocked the ones by me are still open. I feel really sorry for the employees. They know they are likely to get laid off, but don't know when.

My Kmart will be done by the end of August.

The Sears near me was gone last Spring and the next nearest Sears is going now. There is a K-mart in Manhattan and I think it is ok for now. I think it is the only K-mart in NYC.

Used to be, if you needed an appliance, head to Sears. At least in neck of the woods anyway. Have always had good luck with Kenmore. It's really sad.

Just stopped by my local K-Mart which is closing in about a month.

Sad to see what has happened to the "once mighty" K-Mart/ Sears.

I did get the last Persil Power Pearls that had on the shelf for $10.19 but it was of little consolation.

Jeff

I went to the only remaining KMart in Tulsa today and found the "store closing" sign up. It was a sad sight to me. Back in the 80's I worked at a big KMart in a town outside of Tulsa. I only worked spring and summers, in the garden shop. I was outside all day working with beautiful flowers. I loved that job..... but today I found nothing, it is already 3/4 empty. Feelings nostalgically a little sad tonight....

Mimi,

I know what you mean-

As a small child I use to ride my 20" bike to K-Mart as it was about 2-3 miles from my house. I'd stop there and they had a lunch counter, not unlike Woolworth's Five and Dime and for a whopping $1.99 I'd get a sandwich, chips, pickle, and a soft drink.

I bought many record albums and 45 singles Vinyl from them as a teenager.They were my "go to" for my Music needs.

As a adult I would avoid the crowds and long lines of the Walmarts/Targets and enter though the Garden Department where upon check-out I would be the first or second in line.

When they merged with Sears I would get my Craftsman tools from them as for some reason they were often cheaper there than at Sears.

I often tell my Children about these memories and they said "Dad, isn't it just easier to shop online?"

They might be right in a way but there is always something about seeing/feeling/touching/purchasing an item in person than clicking a "purchase button now" online.

Thanks for all the great Memories K-mart, I'm gonna miss ya.

Jeff

Its all about Amazon now.

My Kmart closes its doors a final time this comming Saturday. I have good memories of this store. My mom loved browsing Kmart and I was often with her. I haven't been there since there closing sale started..actually I was there in June I think. We had heard the little Cesears pizza was closing in July so we took the kids for lunch. I had drink coupons and can't beat 5 $ pizza kid style lol.

I will miss Kmarts very large selection of detergent and fabric softener. They had hard to find stuff. Speaking of which I still have a 50 pound box of industrail powdered laundry detergent that I ordered from Sears awhile back. I've been too scared to use it haha.

RIP Kmart and Sears

Jeffrey...oh how I loved Woolworths. Many years ago we had one in my little town and between that and a GC Murphys they were the in place to go lol. The lunch counter was cheap but this was in the 60's when things were cheaper. I have old vintage 100% cotton percale sheets, very high quality with the woolworth tag still on the plastic covering. 1.19 per flat sheet.

Oh and the memories of Sears... Going there with my dad. First thing we'd go straight to the escalator and ride down to the appliance, tool, fishing supplies and paint section. It was a wonderful mix of smells coming up as we went down the escalator. Even as a kid I loved looking at the washers and dryers. My dad would piddle around and get his paint supplies he needed then back up the escalator and a stop at the candy bar for a big bag of fresh hot Redskin peanuts to share. I miss those and him....

Now I have no where around here to buy my 150oz jugs of Purex after the rain scent. I went to Kmart a few months back and bought 6 jugs of it. Walmart carries Mountain Fresh but I don't care for the Mountain Fresh scented one.

Jeff, I'm with you. I want to see, touch and get a feel for things. I really want to get to "know" it and that hard to do on line. Especially clothing and shoes. Guess this old 68 yr. old is just too old school.

beagle, wait til the day comes when you don't think 68 is "old" anymore!

My local Sears in Leominster MA got the word last month they will be closing early February...not good :(

Jeff