http://money.msn.com/top-stocks/post.aspx?post=3b346ded-2a0d-4f0d-999a-0e7107c35615 I remember when Montgomery Wards went belly up. Large stores like that lost their identity. Penny's changed to a clothing store with some specific emphasis on older folks. Although I think naming their senior women's line "Sag harbor" was cruel. Now, they are trying to reinvent themselves again but I think it's not going to work. As to Sears, if I were the CEO, I'd split into 3 separate stores- Sears Kenmore Appliances, Sears Craftsman Tools and a retail for Land's End clothing only.
The only reason Sears still exists is due to it's credit services. Sears makes a lot of money on that, and in many years, it's the only piece of it's business operating in the Black.
Well this sucks. I am replacing my kitchen appliances with Kenmore Elite stuff, but I can't do it all at once. I am going to be pissed if I am not able to match them all with the same brand
It's just a guess, but I think Kenmore & Craftsman will survive, but Sears as a mega store will go away.
At one time Sears owned Discover, All State Insurance, Dean Witter, Caldwell Baker and Prodigy (which was the first dial up provider to offer access to something called the internet.)
I didn't follow the company, but it has a new stock symbol since I last paid attention. Back in 2000 or do, AT&T and Sears were the oldest companies. So old that they both had single character stock symbols. T go AT&T and S for Sears.
Oh yeah. If not for their credit services, Sears likely would have gone belly up years ago. Keeping big stores open and their appliance section is what ultimately got people through the doors and opening credit cards with the company. The continued use of the Sears credit cards (even at non-Sears stores) then generates the cash flows that the company has relied upon to turn profits. Without the stores, people likely wouldn't have signed up for Sears cards. But the company's cash flows are really generated from the credit services.
