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KMart - Bleak outlook and poor earnings are weighing down this sinking ship

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It's been 35 years since K-Mart was an actual force in the retail market. It's shocking how mismanaged the company is, and how resistant to change and adaptation they were.

 

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They've hit rock bottom in my area.  I will say, the only bright spot Kmart has provided me over the years was some minor discounts on wizard battles and council of elronds.  But other than that... It's usually a waste 99% of the time to walk in a kmart looking for deals.  It's a cluttered mess, and nothing is organized, and rarely is there new stock.  Really the key is stock levels, and keeping new stock going, and clearing out the old.  Walmart and Target usually have new sets in stock and have a variety of deals at any given time.  The kmarts have just one or two lines in stock (mine has a lot of lego movie and ninjago sets, but that's it), and at best maybe 25% of the number of sets are available.  I'm actually hoping them close, and target takes their space in my area.

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Really used to like Kmart in Canada, but they closed up when sold to HB/Zellers circa 1998/99.  Still it's always worth a stop when jumping the border - recent trip (couple years ago) netted a couple dozen 50% off larger SW sets... eventually made 3 trips through the checkout 'cause I really didn't want to spend the $$ but CDN$ was at/above par so I couldn't resist as I loaded the car & still had more room (HHR-wagon). The second trip through, the casher had inquired why I was buying more than one or two of such expensive sets & I mentioned there's just no way I could get Lego SW at that price in Canada so I was "buy'n for everyone!"  she laughed & called the stock kid on the PA & they brought out a dozen more sets from the back that they didn't have shelf space for (this Kmart was in an economically challenged town & they just couldn't sell in the price range even at US half off)... took some splannin' to the CBSA guys at re-entry thou.

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 I don't know how they are still open. The two left in Columbus are competing with about 30 other Walmarts, Targets and Meijers, all of which are much nicer with more product and better prices. The stores around here have not been updated since being built 30 years ago. The staff wears street clothes. Half the time you can't tell them apart from customers. Every. Single. Time. I go through the line, there is a price check or some other problem. I have seen Goodwill stores in better shape.

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 I don't know how they are still open. The two left in Columbus are competing with about 30 other Walmarts, Targets and Meijers, all of which are much nicer with more product and better prices. The stores around here have not been updated since being built 30 years ago. The staff wears street clothes. Half the time you can't tell them apart from customers. Every. Single. Time. I go through the line, there is a price check or some other problem. I have seen Goodwill stores in better shape.

​They sold the much nicer stores to pay for the two in your locale.  Rinse repeat until no more left to sell

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I have to agree that they are a bit slow with updating stock.  I really do not understand their clearance model at all, they have a ton of stuff not moving at 40-50% off then they lower it back down to 20% and repeat.  Online that Hot Buy designation for items that are RRP priced is a bit annoying and not price matching in store to their site.

 

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I love Kmart I shop with them all the time.

​I can't even imagine what could possibly be in there. I can never find enough to get free shipping...

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​I can't even imagine what could possibly be in there. I can never find enough to get free shipping...

​Judging by the amount of crushed boxes in that pic a lot of shower curtains.

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When I think about my sorrow for Kmart it makes me think of this

 

It is a far, far better thing that I do, than I have ever done; it is a far, far better rest that I go to than I have ever known.

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​I can't even imagine what could possibly be in there. I can never find enough to get free shipping...

​I never pay for shipping I signed up for a trial max a couple of years ago and it has been extended repeatedly. Kmart had a sale recently. We just got  a few things.

 

kmart.JPG

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Every once in a while I find something but rarely.  When I try to spend money with them it is often a challenge.  Last year tried to have kids get wife a bracelet for Christmas.  Took an hour and three clerks and a manager to finally conclude they were clueless and had no idea where or what I was trying to buy.  Event after I gave them pictures. 

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All the KMarts in my city closed. There are three stores about an hour to an hour and a half out in different directions. Not worth a special trip....

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Kmart should do the right thing and just close down.  Stop fleecing the shareholders $.
Sears tried to add some life into them, but that's like the blind leading the blind. 

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In the Northeast, it's very interesting. 5 of the 6 Kmarts in my immediate vicinity closed within the last two years, and they were basically old un-updated stores that had Walmart and Target nearby. The one that stayed open doesn't have a Walmart/Target in the near vicinity. Others when I go rural upstate NY or western Mass are places where the towns aren't big enough for a Walmart, so the Kmart is the big kahuna. When I go to central CT though, the Kmart experience is totally different. The stores are newer and cleaner. So they did put money into SOME of the stores and decided others clearly weren't worth the hassle.

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Kmart should do the right thing and just close down.  Stop fleecing the shareholders $.

​I'm not quite sure what this means. If they close down, wouldn't the shareholders lose all of their money?

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There are two Kmarts that I go too occasionally.  One located just outside of boston, with out a walmart or target anywhere around.  and the second is close to both but is the first store you see when you get off the highway.  neither look like they have had any major renovations in 20+ years.  Unfortunately both are also pretty stingy with clearance so only deals are from SYW.  

Really both these stores survive because they have been in prime real estate locations for a lot longer than the locations have been prime real estate.  

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​I'm not quite sure what this means. If they close down, wouldn't the shareholders lose all of their money?

​Yes, you are correct, If they just lock up & close down per se.
But, I don't think the shareholders would lose all their money because I don't think They would really close down.  Some other company will buy them out and the shareholders will have another symbol to follow.
I mean, I get it, the major officers are still making the big buck and they are playing the game of smoke and mirrors to keep their salary.  (fleecing the shareholders)
They "Major Officers" are presenting it as alive and have a chance to make a "comeback", when we all know its a dead horse.
I thought it was dead 20+ years ago. 

 

Edited by Miami Bomb Squad

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The few remaining K-Marts in my area are old and dingy.  They are also in very populated areas that lack a Walmart or Target nearby.  K-Marts used to be the hot store, some 40 years ago.  The were new and clean and were unlike anything else at the time.  They never improved on their idea or their stores.  They seem to be sloppy with online site, giving away all sorts of discounts by mistake.  I hate to see them disappear, but it won't be long before they all vanish.

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With all this being said, thank you Kmart for the $1.50 grill cover shipped to my doorstep.  $25 in surprise points in Outdoor Living today.

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