Sears

[giantsfan2016]

Part of the 1st Floor of Sears at Rockaway Townsquare Mall is now Raymour and Flanigan.

http://www.dailyrecord.com/story/news/2016/08/06/furniture-retailer-leasing-first-floor-space-rockaway-sears/88306782/

[Zayre88]

Sears Canada sales down 16% is merchandise stays on shelves

Same-store sales down 5.5 per cent.

Posted a net loss of $91.6-million

http://www.cbc.ca/news/business/sears-canada-earnings-1.3750966

[mixedday]

As Sears is struggling with both it's divisions of Kmart and Sears, could Sears start selling groups of stores to rival chains, like how Kmart (pre-merger with Sears) sold stores to Home Depot? It's Kmart that bought Sears, so would that strategy work again?

In the Baltimore area, Columbia MD Sears maybe could be sold to Macy's for Bloomingdales. Sears White Marsh could be sold to Wegmans. Sears Hunt Valley could be sold to JCPenney.

While JCPenney and Macy have closed stores as well across the country, Sears is unique to them in that it closed stores in successful malls (like King of Prussia) to just stay afloat in outskirt malls. It really has no capability or preference of keeping stores in strong areas anyways, and closed floors in modestly successful to successful malls, or leased out space to Primark. So why not just start selling off to other stores in group deals or bigger transactions, and maybe include the major mall owners.  Mall owners can re-purpose the space if the mall is otherwise strong.

[giantsfan2016]

Do you think Boscov's will take some Sears spots? The small family-owned department store chain was the saving grace of the Meriden Square Mall when they took over the spot vacated by JC Penney. I also wonder why they don't open a 2nd Connecticut Boscov's location in one of the vacant Macy locations at Enfield Square.

[TheFugitive]

That's a really good question.   Boscov's went into the South Hills Village mall here in
Pittsburgh and failed (which was a surprise as that's pretty much the healthiest mall
in town at this stage).  I would have thought the experience put them out of expansion
mode but if they are growing they can probably pick up some Sears locations for a good
price.

[BillyGr]

That's a really good question.   Boscov's went into the South Hills Village mall here in
Pittsburgh and failed (which was a surprise as that's pretty much the healthiest mall
in town at this stage).  I would have thought the experience put them out of expansion
mode but if they are growing they can probably pick up some Sears locations for a good
price.

Not sure exactly when that was, but there was a period where they had some financial issues that led to them closing stores.  However, once those were fixed they re-opened at least one of the closed locations, showing that it truly was money, not a bad location, that caused the closing in the first place.

[Zayre88]

Sears Canada unveils a new store format as it tries to turnaround sliding sales

http://business.financialpost.com/news/retail-marketing/sears-canada-unveils-a-new-store-format-as-it-tries-to-turnaround-sliding-slides

[retailisking]

Not sure exactly when that was, but there was a period where they had some financial issues that led to them closing stores.  However, once those were fixed they re-opened at least one of the closed locations, showing that it truly was money, not a bad location, that caused the closing in the first place.

Boscov's went into major expansion mode but it was badly-timed as the economy was tanking, which forced Boscov's into bankruptcy. The family bought the company back with government-backed loans.

[mixedday]

Boscovs didn't come back to Pittsburgh but they came back to the Baltimore region via White Marsh. They have had other Maryland stores in more rural parts, but White Marsh, Owings Mills and Marley Station were added from Macy's divestitures and these were close around Baltimore City/County.

Rumor was Boscovs looked into Hagerstown's Valley Mall in Macy's closed spot, but passed as the space was too small and Belk has interest in it now. Outlet stores are close and possibly provide too much competition.

[mixedday]

I found this old article from 2013. In Hunt Valley, MD Sears didn't want apartments to be built in Hunt Valley Town Center:
http://www.bizjournals.com/baltimore/blog/real-estate/2013/07/hunt-valley-towne-centre-wants.html

The Avalon apartments opened in August of this year, so Avalon ended up winning. What's puzzling is the Sears is on the opposite end of the former mall. What beef would Sears have with apartments that aren't anywhere near the Sears? Wegmans which is closer to the apartments didn't object.

The same issue is playing out in Burlington, NJ with Sears blocking Moonbeam from redeveloping the Burlington Center Mall, and Sears sits there all by itself without any other anchors.

It does seem ridiculous that Sears, a dying chain, holds on to properties on decline and then blocks redevelopment around it to proceed. The Hunt Valley Sears is a small tier 3 store, that doesn't sell TVs and has an unpopular Auto Center.

On another note, I just learned the JCPenney actually closed at Owings Mills Mall back in April of this year. The entire mall is closed, except there is an AMC Movie outparcel still open. I just drove by and the mall is still up but is slated for demolition. If it was Sears, they would have strung along, but JCPenney apparently decided to close not willing to be a last lone store for perpetuity, even though JCPenney doesn't have a Towson/Timonium store unlike Macy's. JCPenney only has stores in the northeast side of Baltimore County, and Columbia.

[JimSawhill]

Sears at the Staten Island Mall is downsizing. Primark will open on what was the 2nd floor of Sears. The former Auto Center is becoming The Container Store.

http://www.silive.com/westshore/index.ssf/2016/08/sears_downsize_as_rennovations.html

What's Primark?

[giantsfan2016]

Sears at the Staten Island Mall is downsizing. Primark will open on what was the 2nd floor of Sears. The former Auto Center is becoming The Container Store.

http://www.silive.com/westshore/index.ssf/2016/08/sears_downsize_as_rennovations.html

What's Primark?

European Discount Store. Sears started subleasing some of their stores to them including King of Prussia, PA and Danbury, CT. Sears is actually completely gone in KOP as they leased the rest of their store to Dick's. Primark is also opening stores in the Boston area. https://www.primark.com/en/homepage

[giantsfan2016]

Sears and Sears Auto Center in the Corbin's Corner Shopping Center in West Hartford, CT are closing in January. Liquidation begins November 11th. The store is owned by Seritage Growth Partners which leases the store to Sears.

http://www.wfsb.com/story/33624969/sears-sears-auto-center-in-west-hartford-to-close-next-year

[TRU7536]

Sears and Sears Auto Center in the Corbin's Corner Shopping Center in West Hartford, CT are closing in January. Liquidation begins November 11th. The store is owned by Seritage Growth Partners which leases the store to Sears.

http://www.wfsb.com/story/33624969/sears-sears-auto-center-in-west-hartford-to-close-next-year

REI and Saks off 5th ave have already signed leases for the spaces.

http://we-ha.com/national-retailer-poised-take-sears-space-west-hartford/

[giantsfan2016]

REI Confirms it will relocate to a portion of the former West Hartford Sears in 2018.

http://www.courant.com/community/west-hartford/hc-west-hartford-rei-store-relocating-1111-20161110-story.html

Also in the article is a link to a proposal to redevelop the property submitted to the town of West Hartford.

[retailisking]

http://www.retaildive.com/news/report-sears-suppliers-slowing-shipments-on-bankruptcy-jitters/430182

[retailisking]

Sears has sold its Lloyd Center store in Portland, OR to the mall owner. This could be a sign that the store is about to close. There is growing speculation that Macy's may also exit.
http://www.oregonlive.com/window-shop/index.ssf/2016/11/lloyd_center_sears_sold.html

[retailisking]

http://www.businessinsider.com/sears-problems-loom-large-2016-12

[giantsfan2016]

Pull the effing plug already. SHC has been on life-support way too long.

[danfifepsu]

Pull the effing plug already. SHC has been on life-support way too long.

kmart since like 1994 or 1995 id say has. What year will they go out, why Does CT have so few stores? well in their heyday Caldor and Bradlees seemed to dominate Southern New england.

[giantsfan2016]

A lot of the KMART's in Connecticut have closed. As for Sears the only store that is closing is West Hartford, which is closing in January. They downsized in Danbury leasing half the space to Primark. I think they're trying to downsize Waterford too. Numerous Sears Hardware & Appliance Stores have closed including Bristol in 2014 and Wallingford in 2015.

KMART in Bristol and Southington both closed in 2003. Both are now Price Chopper.

Plainville closed in 2004 or 2005 and is now DSW, Petsmart, and Dick's.

Waterbury closed in 2013 and 30,000 square feet or so is now Ollie's Bargain Basement.

Torrington closed in 2014 (I think). Part of it is now Ocean State Job Lot.

Putnam closed and is still vacant. (That's a recent closing).

Wallingford closed (I forget what year) and is a Walmart Super Center. (I still call it that even though they phased-out the Super Center name). The Walmart opened a few years prior to 2008.

KMART is still in Cromwell, Milford, Southbury, Watertown, and Vernon. There is a rumor Cromwell will close in 2017.

[retailisking]

http://www.retaildive.com/news/sears-20th-straight-quarterly-decline-cues-more-store-closures/431961

More about Sears
http://www.cnbc.com/2016/12/08/sears-reports-wider-third-quarter-loss-as-sales-continue-to-suffer.html

[danfifepsu]

what will happen? if they close too many more stores how many they will have is the number of stores that closed in the 2002-2003 bankruptcy.

[Pikapower]

what will happen? if they close too many more stores how many they will have is the number of stores that closed in the 2002-2003 bankruptcy.

Then Sears would go out!

[BillyGr]

Unfortunately, when you read that it makes sense. 
They talk about selling off underperforming brands, and mention those they are known for, mainly the appliances/hardware areas.  Which makes sense, as it's likely people are not buying those as much since they would be more concerned that, if their store closes, it would be hard to get things fixed or replaced if they stopped working properly.  That was always one of their big things - the replacement on tools and having repair available for things like appliances.
It wouldn't be as big of a deal with other things like clothing and such, since any issues with those are likely to be seen quickly (not fitting or similar) or will happen later on but wouldn't be something people would return to the store for.

[giantsfan2016]

My Mom wonders if Sears closes in Meriden, Connecticut would JCP return to the Meriden Square Mall? She said she read how JCP is doing much better than it had been doing previously. She like's both Boscov's (which replaced JCP) in Meriden and JCP. In fact on more than one occasion she has shopped at both stores in one day.

[danfifepsu]

My Mom wonders if Sears closes in Meriden, Connecticut would JCP return to the Meriden Square Mall? She said she read how JCP is doing much better than it had been doing previously. She like's both Boscov's (which replaced JCP) in Meriden and JCP. In fact on more than one occasion she has shopped at both stores in one day.

I went to the one in Milford CT yestrday and it wasnt very busy.

[TheFugitive]

Unfortunately they are in a death spiral from which they are unlikely to escape.
Walk into their stores....even at this time of year, and they are dead.

They send me increasingly attractive coupon deals.
I spend 45 minutes in their store, and can't find anything I'd really like to buy.

The end is near.

[danfifepsu]

Unfortunately they are in a death spiral from which they are unlikely to escape.
Walk into their stores....even at this time of year, and they are dead.

They send me increasingly attractive coupon deals.
I spend 45 minutes in their store, and can't find anything I'd really like to buy.

The end is near.

the one i  went to Milford Ct and Glassboro NJ were dead when I went to them 2 days ago. they arent well lit and smell funny, yet Walmart and TArget are adapting (Target w flexible stores, WAlmart w another new remodel).  What year will Kmart go?

[Pikapower]

Unfortunately they are in a death spiral from which they are unlikely to escape.
Walk into their stores....even at this time of year, and they are dead.

They send me increasingly attractive coupon deals.
I spend 45 minutes in their store, and can't find anything I'd really like to buy.

The end is near.

the one i  went to Milford Ct and Glassboro NJ were dead when I went to them 2 days ago. they arent well lit and smell funny, yet Walmart and TArget are adapting (Target w flexible stores, WAlmart w another new remodel).  What year will Kmart go?

My guess with the way that Kmart is going, they'll be gone in 2017!