Sears To Sell Craftsman Tool Brand, Close Over 100 Stores. End Near?

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WhatInThe

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Not a good day for retailers this week but Sears announced it will sell the iconic tool brand Craftsman to Black & Decker for 900 million dollars along with closing 150 stores. Sounds like the end is near

http://www.msn.com/en-us/money/comp...-craftsman-brand/ar-BBxVM23?OCID=ansmsnnews11

The fact that the company couldn't get over a billion dollars for such a well known tool brand tells me the company is desperate for cash. I've been disappointed in Sears for years at this point although I have Kemore appliances that are still working after a decade. I haven't seen too much positive news about Sears since the hedgefund/Kmart guy bought them.

Also sadly this week Macy announced it too will close many stores.

http://www.orlandosentinel.com/business/consumer/os-macys-oviedo-mall-20170104-story.html

I don't think it's just internet sales that are hurting them either. Price, selection and service has played a part in Sears demise especially.
 

I asked by me if they were going to close the Sears, and they said they weren't sure. I don't go there much, but over the years we have bought some Craftsman tools, lawn mowers, etc. from them. Also used to have good prices on basic clothing like tee shirts, etc. Can't say I ever shopped at Macy's their stuff always seemed overpriced compared to other similar stores like JC Penney.
 
Really sucks that one of the great American retailers fell victim to bad management. They should have been uniquely positioned to take full advantage of internet sales. Instead they took the tried and proven route into oblivion. A CEO that believed he was a savior, slavish devotion to figures, instead of catching the trends that other retailers did.
 

Kmart has been a mess for years, and the times I've visited a Sears in recent years, I've been one of the very few customers roaming their aisles. There is very little sold at Macy's that can't be purchased elsewhere for a far better price. Traditional Retail is becoming less and less of an option for many, as wages and employment remain stagnant, and prices continue to increase. When you factor in the price of a purchase at a retail store, you have to take several factors into consideration that add to the final price of the product...property, taxes, utilities, employee costs, etc.,etc., which are All reflected in the final price the consumer pays. Between Internet sales, with sources such as Amazon or EBAY, and the warehouse stores like Costco, and Sam's Club, the days of opulent shopping malls are nearing an end. Even Walmart is jumping on the Internet bandwagon....there are dozens of items they sell online for substantially less than what they charge in the store.
 
Don M. said:
Kmart has been a mess for years, and the times I've visited a Sears in recent years, I've been one of the very few customers roaming their aisles. There is very little sold at Macy's that can't be purchased elsewhere for a far better price. Traditional Retail is becoming less and less of an option for many, as wages and employment remain stagnant, and prices continue to increase. When you factor in the price of a purchase at a retail store, you have to take several factors into consideration that add to the final price of the product...property, taxes, utilities, employee costs, etc.,etc., which are All reflected in the final price the consumer pays. Between Internet sales, with sources such as Amazon or EBAY, and the warehouse stores like Costco, and Sam's Club, the days of opulent shopping malls are nearing an end. Even Walmart is jumping on the Internet bandwagon....there are dozens of items they sell online for substantially less than what they charge in the store.
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Besides the expense of brick and mortar a company like Sears has to have every part of that store working for them. That means they need clothing, appliance and tools sales all producing. It's too expensive for one product to carry an entire store. I notice unless a sale, a really good sale Sears clothing prices stink. They can't devote that much space to stuff that won't sell. Also compared to their glory years Sears doesn't sell a lot of the stuff even a small hardware store carries. For a lot of small stuff including actual hardware I find myself going to the small local hardware store. Sears used to sell small 4 packs of screws, bolts etc now it's a large assorted pack If you are lucky. Decades ago I could buy the guts for a toilet now they sell neither. The reasons to even go into a Sears have been disappearing.

Clothing for Macy must be a brutal market. I read years ago that Macy's was one of the first affected by the economic collapse because they sold alot of business attire or clothing that didn't have to be that fashionable or hip. When the primary customer becomes the individual you can't sell product or charge prices meant for business people.
 
At one time, every automobile had a tool box in the trunk. Every home had a fair sized tool collection. Every male had a tool chest with an entire collection of wrenches, sockets, ratchets, etc. Today, few even know how to change a tire. Automobiles have become highly computerized. A car owner simply cannot head out to the driveway and change plugs, points, and condenser to tune up his/her own car. The demand for hand tools has greatly diminished.

Snap-On, MATCO, SK Wayne, Plumb, Estwing, and dozens of other brands of tools either are or were out there. My tool chest is chuck full of SK Wayne sockets and wrenches. SK filed for bankruptcy in 2010, no where near the company they once were. Some is management. And, some of the demise is the lack of demand. Couple with that a noticeable lessening of quality. The old CP air ratchets would last a lifetime. Today's battery powered drills and ratchets become throw-away after a couple years... if that long.

Sears has a rich and long history. So did Montgomery Ward. Those used to be the big catalogs of yesteryear. Sears, Wards, Spiegel. Couldn't wait to get the new ones in the mail. That was yesterday.

Sears also went the way of "used car salesmen". Their appliance and tool departments employed commissioned sales people. They would sell you whatever had the biggest commission rather than what you needed. And, even the quality of Kenmore appliances diminished.

Hate to see icons disappear. Sure wish that old Studebaker or Plymouth or Pontiac......
 
Grumpy Ol' Man said:
At one time, every automobile had a tool box in the trunk. Every home had a fair sized tool collection. Every male had a tool chest with an entire collection of wrenches, sockets, ratchets, etc. Today, few even know how to change a tire. Automobiles have become highly computerized. A car owner simply cannot head out to the driveway and change plugs, points, and condenser to tune up his/her own car. The demand for hand tools has greatly diminished.

Snap-On, MATCO, SK Wayne, Plumb, Estwing, and dozens of other brands of tools either are or were out there. My tool chest is chuck full of SK Wayne sockets and wrenches. SK filed for bankruptcy in 2010, no where near the company they once were. Some is management. And, some of the demise is the lack of demand. Couple with that a noticeable lessening of quality. The old CP air ratchets would last a lifetime. Today's battery powered drills and ratchets become throw-away after a couple years... if that long.

Sears has a rich and long history. So did Montgomery Ward. Those used to be the big catalogs of yesteryear. Sears, Wards, Spiegel. Couldn't wait to get the new ones in the mail. That was yesterday.

Sears also went the way of "used car salesmen". Their appliance and tool departments employed commissioned sales people. They would sell you whatever had the biggest commission rather than what you needed. And, even the quality of Kenmore appliances diminished.

Hate to see icons disappear. Sure wish that old Studebaker or Plymouth or Pontiac......
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I sort of disagree on one thing, sort of. In a way the computerization of cars has made some repair easier BUT not affordable. If one has a scanner and/or access to a computer trouble shooting is much easier. But again not cheap. That being said yes decades ago more people had the walking around knowledge to trouble shoot a car problem themselves. Computerization has also led to an increase in the price of paper repair manuals because if they don't have it or you comment on the price the counter guy says Internet! just like that. Should add you can take a paper book/manual just about anywhere and get some stuff on and it won't matter, get grease or oil on a keyboard a different story.

Sears had some odds and ends of SK tools at one time. A yes the disposable portable electric drill-eek. I still use a 30 plus year old corded electric Craftman drill. By early this century if you were using a corded drill you were a relic, now if you use corded portable power you are considered a relic. I've had to replace batteries on two drills less than 10 years old.
 
WhatInThe said:
I sort of disagree on one thing, sort of. In a way the computerization of cars has made some repair easier BUT not affordable. If one has a scanner and/or access to a computer trouble shooting is much easier. But again not cheap. That being said yes decades ago more people had the walking around knowledge to trouble shoot a car problem themselves. Computerization has also led to an increase in the price of paper repair manuals because if they don't have it or you comment on the price the counter guy says Internet! just like that. Should add you can take a paper book/manual just about anywhere and get some stuff on and it won't matter, get grease or oil on a keyboard a different story.

Sears had some odds and ends of SK tools at one time. A yes the disposable portable electric drill-eek. I still use a 30 plus year old corded electric Craftman drill. By early this century if you were using a corded drill you were a relic, now if you use corded portable power you are considered a relic. I've had to replace batteries on two drills less than 10 years old.
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My DeWalt Battery drill is still sitting where it has been for the past 5 years because I'm too cheap to buy new batteries for it.... and I use my Milwaukee 1/2" and 3/8" corded drills.
 
The computerization of cars also made the price of getting them fixed go up because mechanic shops have had to purchase the expensive diagnostic computers to work on them. I know that because I remember years ago when my ex had to buy a diagnostic machine that costed over 50 thousand dollars ( Auto repair business).
Those also have to be upgraded and everything else is 'upgraded'. I couldn't even afford to keep my car in condition if my son wasn't a mechanic. I get everything on my car done for free which is one of my very real blessings in life.
 
BlunderWoman said:
The computerization of cars also made the price of getting them fixed go up because mechanic shops have had to purchase the expensive diagnostic computers to work on them. I know that because I remember years ago when my ex had to buy a diagnostic machine that costed over 50 thousand dollars ( Auto repair business).
Those also have to be upgraded and everything else is 'upgraded'. I couldn't even afford to keep my car in condition if my son wasn't a mechanic. I get everything on my car done for free which is one of my very real blessings in life.
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Alot of that older diagnostic capability is now available on a home scanner. Alot of the more expensive equipment simply spells out what the code means rather than the individual to have to look up the code. The newer cars also more sensors in them so rather than get a code that say emmission system let's say the new cars and scanner will give more precise location of the trouble because they can read more sensors.

What troubles me with the newer cars and mechanics is that they think like a computer technician. I took a car in for a leak and first thing was 'let me put a scanner on it', for a leak???. There are limited number of fluids in a car and you need a scanner to determine what the leak is let alone where it is? This was years ago on an economy car with a simple engine or few luxury features. I knew what the leak was and what part of engine which I told them and they didn't ask a question and went for the scanner

I will say for years there were only one or two scanner companies selling to the public which limited supply and choice and kept prices high. A company like Sears would frequently be more than an a auto store so car repair done through a Sear could get expensive in a hurry.
 
@WhatInThe
Truthfully, I don't even know how to put my own fluids in my car. I am car- clueless. My son though was gifted I mean really gifted with mechanical ability. He was just born with it. I can't think of anything that guy can't do with his hands. He just takes anything and everything apart and fixes it. A couple of years ago my front loading clothes washer had a problem. He came to visit me and just took it apart and fixed it in 2 hours and had never worked on a washer before. He had it running like a top. When he comes over here he'll just work on my car in my driveway unless it's something he thinks it needs to be lifted way up for. He's very inventive also. He was just always like that naturally.

BTW.. I got a Sears gift card for Christmas. I guess I better hurry up and use it
 
BlunderWoman said:
@WhatInThe
Truthfully, I don't even know how to put my own fluids in my car. I am car- clueless. My son though was gifted I mean really gifted with mechanical ability. He was just born with it. I can't think of anything that guy can't do with his hands. He just takes anything and everything apart and fixes it. A couple of years ago my front loading clothes washer had a problem. He came to visit me and just took it apart and fixed it in 2 hours and had never worked on a washer before. He had it running like a top. When he comes over here he'll just work on my car in my driveway unless it's something he thinks it needs to be lifted way up for. He's very inventive also. He was just always like that naturally.
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But a mechanic should be able to diagnose a fluid leak without a scanner. Should be able to pinpoint the precise part or location as well because leaking fluids are visible fluids. That's good your son can fix anything. He and you will save a lot of money. I just finished a washing machine repair. 1/4 the cost of new one and don't have to clear the basement or take doors off hinges for a new delivery. $100 is cheaper than $400 any day of the week.
 
WhatInThe said:
But a mechanic should be able to diagnose a fluid leak without a scanner. Should be able to pinpoint the precise part or location as well because leaking fluids are visible fluids. That's good your son can fix anything. He and you will save a lot of money. I just finished a washing machine repair. 1/4 the cost of new one and don't have to clear the basement or take doors off hinges for a new delivery. $100 is cheaper than $400 any day of the week.
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One thing that really bothers me is that we seem to have become a 'throw away' society where most of these digital products are just thrown out when they don't work because it's cheaper to buy a new one than fix the old one. I miss the days of the fix it shop where products were easily fixed by people in fix it shops.

This is totally off topic & just a mother bragging..
I live on 7 acres in the country. Over 15 years ago when my son was just 14 he fenced off my land for me all by himself. He put in gates too. Just this last year the septic guy asked me who fenced my land & I told him my son did it over 15 years ago when he was just 14 and did it all by himself. The septic guy said " Wow. I can't get my kid off his phone. Your kid did a great job." I'm just bragging. He has been a great kid :)
 
Is the end near? Yes.

Gigantic malls will need to be repurposed. The old idea of "four anchor tenants, one for each corner", is passe. A waste of RE for a bygone past.

I have avoided walking into big retail stores for decades. Don't miss 'em at all.
 
Lethe200 said:
Is the end near? Yes.

Gigantic malls will need to be repurposed. The old idea of "four anchor tenants, one for each corner", is passe. A waste of RE for a bygone past.

I have avoided walking into big retail stores for decades. Don't miss 'em at all.
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The dead mall syndrome. Mall rents got too high. Store prices for small stores in particular followed. Some realtors won't even lease to a discounter because they want to send the message this is not cheap shopping. By the malls and big stores just giving away the lower price market share that doomed them,

At the same time there are malls that have done the opposite including having a Home Depot or Lowes anchor or have/had a discounter in them. One mall around here doesn't even want drug store chains and yet another mall had a Kmart in it during it's early hayday.

Just a note on Sears deal. B & D will pay Sears a commission for 15 years on Craftsman sales then Sears will pay B & D 3% commission on Craftsman sales. I think Sears sadly won out on that deal.

http://chicago.suntimes.com/news/sears-in-900-million-deal-to-sell-iconic-craftsman-brand/
 
I have a Jaguar S type that requires a service every 12000 miles. I get circa 40 miles per UK gallon and it has adaptive 6 gear + reverse transmission, cruise control, climate control, electric windows and mirrors plus other goodies. It's got 140000 miles up and has never had any work needed on the engine transmission, steering or suspension.

My first car required a lube job every 1000 miles and a service every 3000 miles with a decoke every 20000 miles max

Brakes required relining around 7000 miles and steering and other suspension bits were always rattling.

I'll take a modern car any time.
 
I have been reading that Sears will be going under for many years now...I think their competitors
are placing these warnings. I think Sears will be around for many years yet. So what if they are
closing stores that are under performing? Sears and K mart have plenty of stores left and I am optimistic.
Personally, I enjoy shopping there for clothes. In my area the stores are okay. The customers are older folks.
 
Macy's, I believe, was more of a middle class kind of store and the middle class has shrunk drastically. I boycotted them over the holidays because they were open on Thanksgiving Day.
 
I think Sears fell apart when their customer service fell apart. Way back when, they had the best customer service of any store. In the last few years, you can't even find a sales person to help you, and the stores have almost no customers in them at all. The Kenmore appliances used to be reliable and long lasting (I have a pre-1977 clothes dryer in the old olive color that is still going strong after all these years), and you could get good service from Sears for repairs. Those days are over. And K-Mart has been a junk pile for years -- several steps below Wal-Mart.
 
I know before the 2008 crash CNBC host Jim Cramer was pushing the heck out of Sears because his ex hedgefund colleague Eddie Lampert bought the company. He was predicting a $300 dollar stock. If one checked the news about the actual retail operation no way. Hedgefund and/or investors tend to cut budgets to the bone and when a hedgefund like Lampert winds up buying or investing in the company that means they were probably already in trouble because they hunt bargains. Which means Sears troubles are nothing new. Sad
 
As online shopping continues to grow, big box retailers will continue to be dismantled. A new Galleria was built near my home about 12 years ago. It has all of the glitz and glitter of a Las Vegas Casino, including a live piano player in the evenings and on weekends. As is the usual, the first few years were quite busy, but the last few years have seen less traffic than I ever thought possible. On the Thursday before Christmas, I had to pick up one thing at a store in this Galleria and just guessing, I think that I may have been one of about 100 people in the whole mall. J.C. Penney's closed about 2 years ago and Sears is all but void of any customers, except in the tool and outdoor section.
 

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