Published April 27, 2010
Best Buy , RadioShack , Sears , Wal-Mart
RadioShack, or The Shack as it now likes to be called, keeps turning in impressive financial results, mainly due to its mobile-phone selling success. Net income in its Q1 hit $50.1 million, up from $43.1 million in the same year-ago period, and same-store sales rose 4.7%
Sales got a boost by the addition of T-Mobile to its wireless service providers, adding it to Sprint Nextel and AT&T. It also started selling iPhones last year.
Continue reading ‘RadioShack Continues Its Turnaround’
It looks like Sears Holdings Corp. might be ready soon to start cashing in on some of its real estate by putting thousands of its namesake and Kmart stores on the market for sale or lease. And management thinks that the Internet might be an attractive way to do so.
The retailer recently launched a website called SHC Realty that has a searchable database of its properties. The site currently has 67 closed stores that are on the market for sale.
Continue reading ‘Sears Tries Selling, Leasing Stores Online’
Published December 7, 2009
Amazon.com , Sears
So Amazon.com isn’t verifying rumors that the e-tailer plans to open stores in London. Apparently the plan was for the company to open “click and collect” locations where customers could pick up items they order online.
If Amazon were going to open stores, now would probably be the right time, given the current commercial real estate market. But London seems like a pretty expensive place to test out what sounds like a privately owned post office.
Continue reading ‘Surprise! Amazon Not Opening Stores’
Published October 30, 2009
Black Friday , holiday sales , Sears
This Saturday, on Halloween, Sears is launching a campaign called “Black Friday Now,” with “doorbuster” deals on Christmas trees, work boots, diamond-stud earrings and other select items. The deals will take place every Saturday until Christmas.
The retailer is saying that the move is a response to customers wanting deep-discount deals before the traditional Black Friday, which falls on the day after Thanksgiving. But we’re thinking it’s more of a move to combat Sears’ dismal sales results.
Continue reading ‘Sears Starts Black Friday Early, On Wrong Day’
Published July 15, 2009
Best Buy , Costco , CVS , Home Depot , Kroger , Lowe's , NRF , Sears , Target , Wal-Mart , Walgreen
Stores magazine just put out its list of top 100 retailers by revenue. Wal-Mart of course, is on top, followed by Kroger, Costco, Home Depot, Target, Walgreen, CVS, Lowe’s, Sears Holdings and Best Buy in descending order.
Though it’s by no means a new phenomenon, we still get blown away by Wal-Mart’s Shaq-like size. Its nearly $406 billion in revenue last year exceeds that of the next five retailers on the list COMBINED.
Wal-Mart is also making news for its support of employer-mandated health care, which is facing opposition from the National Retail Federation, which puts out Stores. We’re not going to weigh in on the health care debate (you readers are welcome to do that), but we admire that the NRF isn’t afraid to stand up to what must be one of its largest members.
Published May 7, 2009
Amazon.com , Ed Lampert , Kmart , Sears
Sears Holdings Chairman Edward Lampert revealed a plan at the company’s annual meeting that would convert Kmart stores into warehouses where consumers would order products online and then pick them up at the facility. Called MyGofer, the first pilot store has opened in Joliet, IL, where shoppers can even get their items at a drive-thru.
Lampert didn’t give a timeline for rolling out more MyGofer’s across the portfolio. “But if it works, it could give Lampert a way to convert a lot of high-cost stores into low-cost warehouses that still generate a good deal of revenue,” a Chicago Tribune article says.
Continue reading ‘Could Kmarts Become Drive-Thru Warehouses?’
Published February 27, 2009
Ed Lampert , Kmart , Sears
In his annual letter to shareholders yesterday, Sears Chairman Ed Lampert has a lot to say. In a Chicago Tribune article about it today, one reporter bothered to check the behemoth note’s word count, and it clocked in at 8,500.
We’ve looked it over with the intention of saving Counter Culture readers some time, trying to find what would be of most interest the retail real estate community, and we found the future of Sears’ real estate summed up in one unsatisfying sentence: “We will be closely monitoring stores throughout 2009.”
Continue reading ‘Sears’ Lampert Talks Recession, Not Real Estate’