As Sales Continue To Drop, Sears Borrows $300 Million From Its Own CEO

Scott Miller

As more shoppers go online — or turn to retailers that don’t feel like they’ve just given up — same-store sales at Sears and its corporate kin Kmart have continued to sink, leading the once-great department store chain to borrow $300 million from the hedge fund owned by none other than Sears Holdings CEO Eddie Lampert. [More]

Sears Trying New “Fashion-Forward” In-Store Concept

Sears Trying New “Fashion-Forward” In-Store Concept

Sears may be closing stores faster than we can keep up, but the once-great retailer is apparently not ready to throw up its hands and give up. The department store chain has embarked on yet another tactic it hopes will finally be able to drum up some sales, righting the sinking ship. The plan this time? Showcase foreign apparel brands with a store-within-a-store concept.

[More]

frankieleon

Best Buy Increasing Online Sales, Still Not Dead

A few years ago, it seemed like Best Buy was nothing more than a poorly decorated Amazon and Newegg showroom, and the business of big-box electronics stores was doomed. Sometimes, though, the popular wisdom isn’t true, and an electronics store that appears to be doomed can make a comeback. [More]

Nicholas Eckhart

JCPenney CEO: Macy’s & Sears Closures Are Pretty Great For Us

It’s kind of a no-brainer: when one company loses, its rivals stand to gain. And so it is for JCPenney, amid the turndown in traditional retail sales that’s causing Macy’s and Sears to close stores around the country.

[More]

Nicholas Eckhart

Why Are Home Depot & TJ Maxx Bringing In Customers Other Retailers Can’t?

With retailers like Macy’s, Kmart, Sears, and others closing dozens of stores year after year in a bid to boost their bottom line in the face of sluggish sales, you might think the retail world as a whole is struggling. While a number of big names have indeed seen better day, a few companies are bucking that trend. [More]

Colleen AF Venable

Barnes & Noble Decides New CEO ‘Was Not A Good Fit’

Barnes & Noble is ditching its CEO of about a year, Ronald Boire, saying in a statement today that he “was not a good fit for the organization” and that the company would begin their search for a new CEO immediately. [More]

scrappy

JCPenney Sales Increase Slightly, Still Losing Money

When higher-end department stores like Macy’s and even Nordstrom are struggling, it’s understandable that JCPenney might have another tough quarter trying to bring in new customers, get the ones it has to come in and spend more often, and find things to sell that customers can’t just go buy online instead. [More]

Raiders Of The Lost Walmart Will Administer Antibiotics To Your Windows Vista PC Now

Raiders Of The Lost Walmart Will Administer Antibiotics To Your Windows Vista PC Now

The Raiders of the Lost Walmart are the brave mall explorers who scour the nation’s clearance racks for the most comically overpriced retail antiquities. Here are some of their latest discoveries. [More]

Nicholas Eckhart

Kmart Realizes Maybe It Should Try Communicating With Its Own Employees

Last weekend, a story hit the Internet about the current fears of Kmart employees that they’re being asked to move all stock to the sales floor because the company is in slow-motion liquidation. The communications staff at Kmart’s parent company, Sears Holdings, realized that they had to do something when news outlets began sending them questons about the employees’ accounts. Maybe they also needed to communicate a little better with store employees. [More]

Nicholas Eckhart

Kmart: Stockroom Purges Are About Efficiency, Making Employees’ Jobs Easier

Kmart is not pleased with recent news reports about the chain’s imminent doom, and today posted a blog post of its own in response. The prediction of fearful employees that the chain is about to shut down is inaccurate, the chain’s leaders say, and the stockroom purges aren’t a first step toward liquidation. [More]

Mike Mozart

Nordstrom Now Facing Same Sales Slump, Challenges As Other Mall Retailers

Over the past year, a number of onetime mall behemoths — Macy’s, Sears, and other retailers — have suffered slipping sales that have led to store closures. While these mid-range department stores have working for years to increase sales and meet customer demand, many high-end retailers – like Nordstrom — have avoided that fate, at least until now. [More]

Nicholas Eckhart

Kmart Employees Report Sudden Merchandise Purges, General Sense Of Doom

Kmart isn’t closing all of its stores. Nope. That’s the company’s official policy, and what they tell anyone who asks. Yes, they’re closing some stores, both gradually and in big batches, but that’s part of the company’s “transformation from a traditional, store-network based retail business model to a more asset-light, member-centric integrated retailer.” Yet some employees are quietly worried that the whole chain is about to shut down. Update: Kmart denies this report. [More]

Nicholas Eckhart

Florida Church Raising Money To Revive Dead Mall

Due to changes in demographics and shopping habits, the American landscape is littered with dead malls. The Ponce de Leon Mall in St. Augustine, Florida, has closed the mall common areas and only its anchors with their own entrances have stayed open. One of those spaces is rented to a non-denominational church. Now the mall’s owner has offered the church the opportunity to buy the entire mall, and they’re raising money to make the down payment. [More]

Retail Rivals Pulling Out Their Own Deals In Effort To Compete With Prime Day

Retail Rivals Pulling Out Their Own Deals In Effort To Compete With Prime Day

Just because Amazon is calling today Prime Day doesn’t mean other retailers can’t offer their own discounts and deals, too. As such, a whole bunch of retailers are pulling out specials designed to lure shoppers today, while carefully avoiding any mention of “Prime Day” [More]

Richie Diesterheft

All That’s Left At The Oldest Remaining Sears Are Fixtures And Khakis

The Sears store on Lawrence Avenue in Chicago is winding down operations. That’s a normal part of the retail cycle: when a store is no longer making money, you shut it down. What’s different about this store closure is that the Lawrence location was one of the oldest still-operating Sears department stores, open in that location for 91 years. It survived the Great Depression, but not the era of e-commerce and of Eddie Lampert. [More]

Ben Schumin)

Department Stores Don’t Draw Customers, Malls Don’t Want ‘Em Anymore

What actually draws you to the mall, when you go there? A generation ago, you might have headed to your nearest mall to buy a refrigerator from Sears or a dress from JC Penney. Today, though, customers are less interested in hulking department stores, and more likely to visit their local mall to have dinner at a Cheesecake Factory or shop at an Apple Store, and skip the department store. Mall owners are noticing. [More]

Mike Mozart

Target Closes Several In-Store Portrait Studios

Years ago, when you wanted to have a family portrait taken you’d hop in the car with the family and head to your local department store — Sears, JCPenney, and others. While some of these studios have closed their doors over the years, Target stepped in to fill the void. Until now: the big box retailer announced this week that it would close a handful of its in-store portrait studios in favor of other initiatives.  [More]

Sears Expands Another House Brand, Sells Kenmore TVs

Sears Expands Another House Brand, Sells Kenmore TVs

A few weeks ago, Sears announced with its quarterly earnings that it was looking into doing some unspecified money-making thing with its signature house brands: Kenmore, Craftsman, and DieHard. Most observers assumed that this meant selling the brands, since Sears Holdings needs some cash flow. Instead, the company is expanding the brands to include new and related like DieHard car tires and now Kenmore-brand televisions. [More]