From 2,000 stores to 182 storesโthatโs how much Sears, the storied retailer that also owns Kmart, has shrunk in just 5 years. Thatโs a reduction of 90%.
Remember when people said the retail apocalypse was over-rated, or over? With the currents affecting Nordstrom, Neimans, Barneys, and Macyโs, I believe that weโre still in the midst of the storm. And, even after these other retailers close, the remaining ones will have to spend $1.50 for every $1 they take in to compete against Amazon. So, will...
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July 26, 2019
July 26, 2019
Irony: old analog retail is literally being replaced by new tech. Todayโs WSJ shares that retail space that used to belong to Lord & Taylorโs midtown flagship may become Amazonโs NYC office space. In the East Village, Facebookโs HQ recently took over Kmartโs entire third floor, shrinking Kmart from three floors to just two. Thatโs a 33% contraction, which mirrors the contraction of physical retail and the growth of digital platforms like Amazon and Facebook. Note: Lord & Taylor, Kmart, and many ...
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October 17, 2018
October 17, 2018
In the last 9 years, Sears has closed about 500 Sears stores (more than half its locations) and closed about 900 Kmarts (more than 60% of those locations).
Even if Sears overbuilt, thatโs a significant retrenching.
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This article below from the today's NYT echoes a conversation I had this week with a major tableware brand. The head of the company said that he can see a day when the traveling home goods salesperson will not travel. Instead, the person will do his or her sales presentations over the phone and web. Samples will be shipped via UPS or FedEx. Otherwise, sales reps have to drive to and from meetings, and this gas money may eat up 25% of their commission. Oddly, ...
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