Sears warned investors last year there was “substantial doubt” it would be able to stay in business. It has lost $11.7 billion since 2010, its last profitable year. Sales have plunged 60% since then. The company shuttered more than 2,800 stores over the past 13 years.
This is extremely sad and we are going to regret allowing Amazon and other online retailers to bankrupt and put out of business stores that we used to love to shop at. This is not a good thing at all. I remember going to Sears & Roebuck many years ago and I remember the Sears catalog that used to come out and we would go through it, same with JC Penny and other stores. There is no Sears or Kmart anywhere near where I live and I greatly miss Kmart because I used to shop there quite a bit. When I moved to this area, the Kmart was still open, but a mere few months later, it closed. I drive by there now and just sigh. Again, we are going to regret this, but you can’t get people to understand that fact.
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That is what I’ve been trying to tell people, too. Deaf ears. Now Wall fart is raising its prices…didn’t see that coming. /snark
I’ve lived to see entire downtowns destroyed by these mega stores that I refuse to shop in.
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I hear you Dolphin and it is a truly sad fact that there are so few of us who actually can see beyond tomorrow. Corporations and governments have studied people well and found that many want instant gratification and if that means a click of a mouse and one day delivery or even same day delivery rather than getting off our fat butts and doing a bit of walking and paying a bit for good products, well then that is why we are at this point. I will walk around butt ass naked before I will ever order anything off Amazon and I don’t shop at Walmart and I won’t. As long as there are thrift stores and consignment shops open, that is where I do my shopping. And I try and patronize the few remaining independent stores that are left. Used book stores have closed left and right, again thanks to Amazon and where I used to live, there was a huge library with an extensive collection of books and so I was not without a book in my hands, but where I’m at now, the ‘library’, if it can be called that is a joke, and not a very funny one.
We will rue the day we ever heard of Walmart, Amazon, Apple and others that have eaten ALL the little fish and so we see what you have just described, higher prices at Walmart for cheap, plastic junk and bad food that’s being recalled every other day. It is a pity that there are more fools than there are people like you, me and Dr. Bramhall.
Thank you for an excellent and right on point comment!
Shelby, I have a suspicion that the low income people most hurt by the closure of Sears and Kmart probably aren’t the same ones that are flocking to Amazon. I’m currently circulating a petition to reform NZ’s banking system and I’m really surprised how many low income people aren’t on line. They certainly can’t afford smartphones. While a few go to the library to use computers, they certainly aren’t using them to order from Amazon.
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