Wednesday, May 21, 2014

The Economy - Sears

Ever since Sears and Kmart merged in 2005, things have not gone well. Sales have declined every year since 2006 and Sears in now losing money at an alarming rate. Over the past year, Sears has quietly closed over 100 stores. Rumors are that 500 more stores will be closed over the next few years. Sears has just not been able to compete with Walmart and Amazon. Lot's of people work at Sears and so we will see plenty of people out of work in the near future. What else is interesting is that Sears are mostly at Malls and large retail locations. They are not usually located in strip malls, so this is not part of the death of the strip mall that has been occurring lately. I wonder how things are going at the local mall? I have not been there in a while and I wonder how sales are going and how many people are visiting. This might make a good project for this weekend.

What do you think?

For more:
http://money.cnn.com/2014/05/15/news/companies/sears-store-closings/index.html?hpt=hp_t2