Sears has a bigger problem than plunging sales: dwindling inventory.
The companies that supply Sears with the TVs, toys, and clothing for sale in its stores are growing increasingly concerned about the retailer's ability to pay its bills, and some are cutting back on shipments to stores as a result.
That means Sears and Kmart stores are receiving less merchandise to sell, which is a grave problem for a company that's trying to avoid a possible bankruptcy by reversing years of sales declines.
Sears said this week that One World Technologies, one of its top tool suppliers, threatened to cancel its contract with Sears unless the retailer agreed to cut back its orders. One World Technologies cited concerns about the Sears' ability to pay its bills, according to a lawsuit filed by Sears on Monday.
Sears says it has always paid its suppliers on time and claims One World Technologies is trying to take advantage of "negative rumors" and media reports about Sears' viability to change the terms of its contract.
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9 comments:
It also has an image problem. Only old grumpy people want to buy stuff from there and they don't spend any money. They eat at Golden Corral not MSI or Rest. 213. Aww, I remembers the old days when the big book would get delivered by the white mailman that never missed a day delivering our mail. Always thought it was funny that my youngest brother looked just like him.
WOW...so true!
You really should wait until you sober up before posting on here.
No one under 30 shops at Sears. Amazon/Jet/Walmart online. Faster, less expensive, no driving in traffic and delivered to your door in 48 hours. Who drives to Mall - parks in a lot with no security - walks around searching for what they want to buy and over pays for it? Not the younger generation.
I can recall when Sears was next to where the Goodwill is now.It was packed all of the time.
Yeah like 30-40 years ago? Monkey Wards was across from the Giant, err Acme on S 13 too.
Racist
Have you been to Sears lately? Like in the last decade? Their customer service is for sh**. You can never get anyone to wait on you of their own accord. Like Home Depot, you have to hunt down a salesperson to get any help. The only thing Sears has going for it is their awesome tool section. As for the rest, you can find it cheaper at other stores and usually can find someone to wait on you. Their clothes can't compete with online sales and other places like Old Navy that provides a great selection at a reasonable price. They blew all their money getting people like Kim Kardasian and sacrificed good old customer service, so I don't have any sympathy for them. At the end of the day, if you have no customers, you have no reason to be there in the first place.
The last time I was in sears was around Christmas. There was little to pick from in stock. Needed a new pair of shoes. I wear a size 10 which is a popular size. Little to nothing to pick from. No electronics department. They quit selling TV's and electronics, so that counted me out. The tools were over priced and I could get what I was looking for cheaper at Harvard Tools or Lowe's. All of my appliances and my mowers have come from Sears. At least I have someone who still works on these. Very sad ending to what was once a great store. I was saddened to see Wards leave and will feel the same when Sears is no more.
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