On paper, the merger between Kmart and Sears looked almost fool-proof. Investors were confident that hedge fund manager Eddie Lampert had the midas touch, and that Sears’ real estate holdings were worth more than $150 on their own. Sears’ well-regarded brands would be paired with Kmart’s convenient locations—and everyone would make tons of money.
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By 1.20.08
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“Excessive price-scanning errors” earned the Kmart in Madison, North Carolina a $5,000 fine from the Department of Agriculture and Consumer Services. [Eden Daily News]
See Everything Your Friends And Neighbors Have Ever Bought At Sears
By 1.4.08
Want to see all the major appliances and repair services that your friends and neighbors… (and anyone else who you can look up in the phone book) have ever purchased at Sears?
Over 17 Million Items Recalled For Lead Contamination In 2007
By 12.28.07
Ladies and Gentlemen… Boys and Girls… The final tally for lead recalls is in.
Sears' Eddie Lampert Is "Worst CEO of the Year"
By 12.7.07
The fact that Eddie Lampert isn’t even a CEO didn’t stop Herb Greenberg at Marketwatch from slapping the coveted “Worst CEO of the Year” award on him. Eddie beat out such unemployed luminaries as Chuck “Whoops” Prince, formerly of Citigroup, and Ed “I Hate My Customers” Zander, formerly of Motorola.
Kmart Loses Toilet Paper Tax Lawsuit
By 12.1.07
Mary Bach, the woman who sued Kmart for charging tax on toilet paper, has won her lawsuit and $100. Kmart offered to settle with Bach, but she declined.
Sears' Cost Cutting Not Going So Well
By 11.30.07
The New York Times has an article that attempts to diagnose what’s wrong with Sears, and it mainly focuses on their (ill-advised?) cost cutting strategy.
What’s Wrong With Sears?
By 11.29.07
Sears’ earnings are down 99% and there’s really no denying that something is going wrong with the retailer. Same store sales, the most important indicator of the health of a store, fell 4.2 percent in the third quarter.
"Free Money" Computer Glitch Leads To Kmart Melee
By 11.27.07
A computer glitch at Kmart leads to everyone being granted store credit cards – and a large-scale brawl erupting.. Two women started scrapping and then several men got involved. A Kmart worker was punched in the nose and smashed through a glass display case. Customers were calling up friends and telling them to come down to get the “free money,” $850 to $4000 in credit After applications ran out, one customer grabbed more from another Kmart and started selling them in the parking lot for $20 a pop. Watch out, when the American Dream is a blue-light special, consumers are liable to get bloodthirsty.
Kmart Worker Who Put Rat Poison In Ground Beef Sentenced To 1 Year House Arrest
By 10.30.07
The pissed off Kmart worker who tried to get revenge against the store by putting rat poison in the ground beef has been sentenced to a year of house arrest, plus $4,000 in restitution to Kmart.
K-Mart Illegally Taxes Toilet Paper
By 10.6.07
A Pennsylvania K-Mart levied an illegal $0.28 tax on Mary Bach’s $3.99 12-pack of Angel Soft toilet paper. Pennsylvania’s sales tax guide clearly states that toilet paper is a non-taxable item. Mary first spoke with a cashier after noticing the illegal charge. When K-Mart again charged her the tax on a second visit, she decided to sue.
WSJ Editor Caught After Accidentally Stealing From Kmart
By 9.20.07
Kmart detained Wall Street Journal editor Laura Landro after she accidentally stole $8 from them by putting a more expensive pair of flipflops in a box with a cheaper price tag.
Publix Stops Price-Matching Walmart's $4 Drug Plan
By 8.10.07
Bad news for people who were enjoying Publix’s policy of price-matching Walmart’s $4 generic drug plan—they’ve discontinued it, opting instead of offer free antibiotics.
Kmart Adds 70 Drugs To Its $15 Generic Drug Program
By 7.11.07
Now covered by the 90-Day Generics Program are nearly 70 new generic medications, including 17 different formulations of popular generic prescription prenatal vitamins, a larger selection than other generic programs
At $5 a month, Kmart’s program is still more expensive than Walmart’s $4 a month program, but instead of going to Walmart every month, Kmart offers a 90 day supply for $15. Presuming, of course, that you can locate a Kmart.
Kmart Employee Busted For Letting Relatives Walk Out With Shopping Carts Full Of Stolen Stuff
By 6.26.07
Employee theft is a serious problem for retailers. It makes prices go up and return policies more strict. So when we hear about an employee getting busted for such a spectacularly stupid, yet probably effective and routinely performed scam we are glad.
Kmart Pays $15,000 Fine For Not Putting Price Tags On Merchandise
By 6.18.07
Kmart has paid a $15,000 fine to Westchester County, NY for not putting price tags on its merchandise. “Westchester’s law is clear: Items on store shelves must be clearly marked with a price tag, so consumers can verify how much an item costs and be sure that they are being charged the correct price at the checkout register,” County Executive Andy Spano told Lower Hudson Online.
Kmart To Resurrect "Blue Light Special"…Again
By 5.8.07
Sears is aiming to be a one-stop shop for the home, while Kmart is turning its discount stores into a “marketplace of discoveries,” Lampert’s chief marketing officer, Maureen McGuire, said as Lampert looked on.
This Kmart Bacon Is Excellent, But Could Use Some More Fat
By 5.7.07
In the continuing saga of people who buy their food from big box stores, find it to be sub-par and then send us a picture, meet Simon. Simon is displeased with his bacon, purchased at Kmart and manufactured by the Smithfield corporation of the Commonwealth of Virginia, because it contains too much fat.
