Sears To Close Flagship Store in Chicago. Predicted Right Here 3 DAYS ago!

Morning Folks!!

I have been saying this for a year or two now and here it is.

Sears is closing their FLAGSHIP store in Chicago to go ONLINE!

This one I wrote just THREE DAYS AGO!!

"Retailers will have to analyze those holiday numbers and they are going to one day come to the realization that for folks like JC Penny and Sears to survive, they need to start closing every store that is not growing in sales. BOOM! Just like that. Done! Overnight. Stop the hemorrhaging and focus on what works. Take some of those employees and train them how to use Facebook and Twitter and all the rest and unleash their power of change. The game is over guys. Time to rethink the next 100 years or you won't be around to rethink it. Time is running shorter and Amazon is growing bigger."

http://www.ricksblog.com/2014/01/discover-fortune-can-still-made/#.UuFDM3n0D_Q

This is what I wrote about this in August and stay tuned for my next post as JC Penny is closmg 33 stores and 2000 employees.

http://www.ricksblog.com/2013/08/jc-penny-bleeding-nearly-200-million-a-month-and-still-clueless/#.UuFDv3n0D_Q

http://news.yahoo.com/sears-closes-chicago-flagship-store-moves-online-retail-004125876--sector.html

Here are some thoughts from 2009 about the future of Sears and Pennys and Kmart:

http://www.ricksblog.com/2009/11/ricks-2009-report-card-and-what-2010-is-likely-to-look-like-imo/#.UuFFo3n0D_Q

and 2008

http://www.ricksblog.com/2008/12/the-collapse-of-2009-happy-new-years/#.UuFF9nn0D_Q

http://www.jckonline.com/2014/01/15/jc-penney-closing-33-stores-laying-2000

It's all so forseeable. I see what they get PAID to see.

Rick Schwartz

 

 



8 thoughts on “Sears To Close Flagship Store in Chicago. Predicted Right Here 3 DAYS ago!

  1. Owen Frager

    You are right again. But it’s not only the power of the Internet. As a blogged yesterday quoting

    Zero Hedge asks What Recovery? Sears And J.C. Penney Are Dying

    “Two of the largest retailers in America are steamrolling toward bankruptcy. Sears and J.C. Penney are both losing hundreds of millions of dollars each quarter, and both of them appear to be caught in the grip of a death spiral from which it will be impossible to escape. Once upon a time, Sears was actually the largest retailer in the United States, and even today Sears and J.C. Penney are “anchor stores” in malls all over the country.

    At the time, nobody would have ever imagined that Sears or J.C. Penney could go out of business someday. But that is precisely what is happening. They are both shutting down unprofitable stores and laying off employees in a desperate attempt to avoid bankruptcy, but everyone knows that they are just delaying the inevitable. These two great retail giants are dying, and they certainly won’t be the last to fall. This is just the beginning.

    Sandman Responds:

    “Woolworth, Woolco, Montgomery-Ward, Ames, Circuit City, Bradlees, Anderson-Little, Zayre, Filenes, G Fox, Jordan Marsh, Kaufmann’s, May Co, Marshal Field’s, Lazarus, Rich’s….. the beat goes on.

    Reply
  2. Owen Frager

    Meanwhile as they close DEALS galore- buy a $100 item yard sale it for $600
    Said another guy in the above article: “Wife went to Sears last week to “look” at washers/dryers. The department manager had just 5 minutes before she got there lowered the price of a floor model w/d set, new model year priced at $1850, to $675. Guess what we had delivered today?

    BTW, a floor model top of the line refrigerator was priced at $200. Too bad we didn’t need one.”

    Reply
    1. Rick Schwartz

      However, on the way to that they will have blowout earning next week that will stun the world.
      They are the BIG winner for Christmas 2013 and next Wednesday should make it official.
      Stay tuned.

      Reply
  3. Jeff Schneider

    Hello Rick Sage,

    Nice call again !
    All the largest retailers need to understand that its (ALL ABOUT THE INTERNET ! ) . The worlds most successful Global Retailers such as Alibaba and Amazon and other newcomers, can see the future if they quit listening to their Search Engine Centric Marketing Teams and rely more on .COM URL-Centric Marketing. Those who rely on the .COM Business Model, which remains the Point of Purchase Epicenter to the Worlds Largest Consumer Base, will hold the key to the ( Holy Grail of Mass Marketing ). I believe I said this 14 years ago.

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)

    Reply
  4. UFO

    JC Penny is almost certainly the same as Marks & Spencer here in the UK. They DON’T HAVE A FRIGGIN CLUE. Seriously slow on the take up of the internet and identification of its threats and opportunities. But even now they still haven’t looked at how to properly integrate the real and virtual shopping world. SERIOUSLY USELESS. Integration isn’t going to a store and finding its out of stock and then going home ordering it on the net and then getting free delivery back at the store.

    GOD DAMN F&*((ING USELESS AND THEY DESERVE TO GO BUST.

    Reply
  5. Danny Pryor

    There will always be a place for brick and mortar showrooms, I believe. The merchandise that will be in those showrooms will be display models only. Things like beds and sofas and even cars, for that matter. You sit, bounce, jump, rest, test drive, then order your custom version at a kiosk or get a preferred client number to order online for immediate home delivery.

    So, commercial real-estate is a long-term short, if you ask me. Meanwhile, warehousing in regional locations – Amazon does this already – will grow, leading to a larger demand for light-industrial space. Okay, so there are some aspects of commercial real estate that will do well, as long as they’re adjacent to a transit line or some sort.

    As for other’s getting paid to see what you see, Rick, there’s a big difference, and that is those getting the cash are looking at the trend after the fact. You are look forward and telling them what the trend will be.

    You should compile all of your predictive posts into one place, followed by the date and time they came true, and links to the event as reported in media. THAT would be an interesting post. ;-)

    Reply

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