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Neo Rasa posted:I'm just surprised they're going out for good before Sears. Sears had a lot of assets ie real estate, brands the private equities raided, but I think that game is over.
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Mar 9, 2018 14:06
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Neo Rasa posted:I'm just surprised they're going out for good before Sears. The owner of Sears is trying to not lose all his money. TRU is being raided by private equity for everything of value. That is, TRU is being deliberately killed, Sears wasn't. And it's not for good, they're profitable enough and have enough name recognition that someone will buy them after they've been emptied to try and rebuild something.
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Mar 9, 2018 19:31
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Sears is just more than Sears and Kmart stores. It’s Sears appliance repair and parts business, Craftsman B2B sales, automotive repair, insurance and real estate deals. There’s a ton is passive and residual income that can fund Sears for a while even as their retail stores die.
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Mar 9, 2018 20:11
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duz posted:The owner of Sears is trying to not lose all his money. TRU is being raided by private equity for everything of value. That is, TRU is being deliberately killed, Sears wasn't. Uh, isn't that exactly what's happening with Sears too, it's just a stronger company and taking longer to strangle? And the private equity raider is their own CEO?
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Mar 9, 2018 20:12
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The difference is who put up the money.
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Mar 9, 2018 20:30
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Fame Douglas posted:When food in your country is so bad you're excited about a new Denny's opening up. I don’t know why the hell you would go to Denny’s in the UK with their 10 dollar breakfast selling rear end when every place I went to had better breakfasts for like 3 dollars less, after currency conversion.
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Mar 9, 2018 20:56
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FCKGW posted:Sears is just more than Sears and Kmart stores. It’s Sears appliance repair and parts business, Craftsman B2B sales, automotive repair, insurance and real estate deals. There’s a ton is passive and residual income that can fund Sears for a while even as their retail stores die. Yeah probably. Kmart is going down before the end of the year though. Whenever closings are announced the majority has always been Kmart stores. The brand is weak and it does everything other stores do worst.
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Mar 10, 2018 00:58
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Claire's is going down, too: https://www.bloomberg.com/news/articles/2018-03-08/claire-s-is-said-to-plan-bankruptcy-with-creditors-taking-over Seems like nearly all of the mall staples I grew up with throughout the 90s and early 00s are fading away.
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Mar 10, 2018 08:06
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You could close 80% of Claire’s locations and there would still be one only 20 minutes away from most everybody.
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Mar 10, 2018 08:22
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The ones I cared about died long ago. RIP Waldenbooks and B. Dalton. Hilariously, Waldenbooks and Borders bookstores were also owned by Kmart. Barnes & Noble is the last remaining national-level bookstore chain in America, and they're struggling too. Laid off 18,000 employees after a lovely holiday sales season this year. Liquid Communism fucked around with this message at 08:38 on Mar 10, 2018 |
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Mar 10, 2018 08:31
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There was a blog post in this thread about B&N executives intentionally sabotaging the companies long-term profitability. Firing all full-time employees at the stores, make individual stores fulfill online orders with the stores own stock and without compensation, etc.
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Mar 10, 2018 10:24
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RandomPauI posted:There was a blog post in this thread about B&N executives intentionally sabotaging the companies long-term profitability. Firing all full-time employees at the stores, make individual stores fulfill online orders with the stores own stock and without compensation, etc.
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Mar 10, 2018 11:24
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Vegetable posted:What’s the supposed motive and incentive in this conspiracy theory Giving up on the b&m entirely and trying to compete with Amazon in the esales space for as long as they could is my guess.
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Mar 10, 2018 11:46
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You can fudge the figures to make a struggling company look good for one quarter if you massively cut down on your outgoings - Small start ups often fail by investing in stock, selling that stock and keeping the money without paying rent, their staff, or buying new stock. What we seem to be seeing is more and more huge businesses that look to be doing the same thing.
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Mar 10, 2018 12:17
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Vegetable posted:What’s the supposed motive and incentive in this conspiracy theory Executives/shareholders take the money and then move on to a new company, what else.
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Mar 10, 2018 13:56
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Vegetable posted:What’s the supposed motive and incentive in this conspiracy theory I am pretty sure "big box book stores have no future" is not really some super secret information that book stores are unaware of.
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Mar 10, 2018 14:17
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Owlofcreamcheese posted:I am pretty sure "big box book stores have no future" is not really some super secret information that book stores are unaware of. "gently caress you, got mine." That's the basic concept.
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Mar 10, 2018 14:24
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While i realize the operating officers don't have any plans beyond "Do the necessary to make my quarterly bonus", after they shutter all of these retail giants, what's next? Do they "slum" downwards to eliminate any regional/ local chain (that wasn't purchased by the giants in the past 30 years) and work their magic there? Or do they fail upward to...Amazon?
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Mar 10, 2018 14:43
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When the quartely bonus is nice enough to live on for a year or two, it's probably easier to give yourself some time to figure that one out.
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Mar 10, 2018 14:49
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Cheesus posted:While i realize the operating officers don't have any plans beyond "Do the necessary to make my quarterly bonus", after they shutter all of these retail giants, what's next? Do they "slum" downwards to eliminate any regional/ local chain (that wasn't purchased by the giants in the past 30 years) and work their magic there? Or do they fail upward to...Amazon? I mean, these guys are doing the numbers constantly so if you’ve had another disastrous holiday season in year 3 of your “turnaround plan” and you can see that the company has maybe another 12-18 months on its current path, then it’s time to accept the inevitable and extract whatever value you can now and then close up a few months earlier instead.
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Mar 10, 2018 18:21
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RandomPauI posted:There was a blog post in this thread about B&N executives intentionally sabotaging the companies long-term profitability. Firing all full-time employees at the stores, make individual stores fulfill online orders with the stores own stock and without compensation, etc. The company is failing so pillage it for all you can before it sinks.
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Mar 10, 2018 22:10
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Cheesus posted:While i realize the operating officers don't have any plans beyond "Do the necessary to make my quarterly bonus", after they shutter all of these retail giants, what's next? Do they "slum" downwards to eliminate any regional/ local chain (that wasn't purchased by the giants in the past 30 years) and work their magic there? Or do they fail upward to...Amazon? Wait for the regional chains to step up to fill the void on the wings of investors desperate for the next bet, then repeat.
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Mar 10, 2018 22:21
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Cheesus posted:While i realize the operating officers don't have any plans beyond "Do the necessary to make my quarterly bonus", after they shutter all of these retail giants, what's next? Do they "slum" downwards to eliminate any regional/ local chain (that wasn't purchased by the giants in the past 30 years) and work their magic there? Or do they fail upward to...Amazon? take a parachute and end up somewhere else
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Mar 10, 2018 22:35
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anonumos posted:"gently caress you, got mine." That's the basic concept. If you run a big box book store there is probably not a lot of paths forward that aren't "make the most of it right now, it's gone soon" there is pretty much no case for big box book stores in 2018+. It's either online or small and local stuff. No one needs a giant physical store to buy like, harry potter books.
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Mar 10, 2018 22:36
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Owlofcreamcheese posted:If you run a big box book store there is probably not a lot of paths forward that aren't "make the most of it right now, it's gone soon" there is pretty much no case for big box book stores in 2018+. It's either online or small and local stuff. No one needs a giant physical store to buy like, harry potter books. They have "executive experience" and will move to a non retail company.
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Mar 10, 2018 23:05
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Hand Row posted:They have "executive experience" and will move to a non retail company. Ding they metastasize to elsewhere.
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Mar 10, 2018 23:22
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They move on to another industry then gut the customer service departments there because it's all they know how to do.
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Mar 11, 2018 00:19
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B&N really should have just gone full-Amazon but this might be a bit too late.
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Mar 11, 2018 14:17
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Vegetable posted:B&N really should have just gone full-Amazon but this might be a bit too late. They tried, remember the nook?
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Mar 11, 2018 19:51
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Plinkey posted:They tried, remember the nook? I still see a Nook area in the B&N at Union Square when I go in there on occasion.
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Mar 11, 2018 19:59
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A nook nook?
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Mar 11, 2018 20:02
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moller posted:A nook nook? Pretty much (it's an alcove in the back of the first floor, near the DVD area). To be fair, they have four floors of space they have to fill up.
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Mar 11, 2018 20:09
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Plinkey posted:They tried, remember the nook? The problem is Amazon diversified and is barely even remembered as the company that was once mainly a book store, meanwhile the changes in B&N's e-commerce can be summed up as ditching software, and adding toys/collectibles. Their music section still only sells physical. B&N probably can't turn into a department store, which is what "going full Amazon" would really mean in practice. OneEightHundred fucked around with this message at 21:24 on Mar 11, 2018 |
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Mar 11, 2018 21:19
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B&N also wasn't a "tech company" which means they couldn't sell everything at cost and lose money for a decade in the hopes of becoming the monster Amazon is today
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Mar 11, 2018 21:32
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OneEightHundred posted:B&N actually got into e-commerce early and was one of the better sites selling books, or anything, online for a while and was a serious competitor to Amazon. If you compare their sites circa 2000, they were basically the same as Amazon. Barnes and Noble diversified in the late 90s. They bought a bunch of electronics and video game chains and merged them together. It was called GameStop.
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Mar 12, 2018 04:58
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Huh, I hadn't known that part of B&N history. From their wiki article: "Barnes & Noble retained control over GameStop until October 2004, when it distributed its 59% stake in GameStop to stakeholders of Barnes & Noble, making it an independent company." Is that normal? Giving shares of a subsidiary to your shareholders?
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Mar 12, 2018 05:02
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Vegetable posted:Huh, I hadn't known that part of B&N history. From their wiki article: Yes - it's called a spin-off and it happens decently frequently in the corporate world (since it's typically a tax-free transaction when it occurs, assuming no cash is involved).
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Mar 12, 2018 11:14
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Noctone posted:Really hoping this is a brain fart, and not you not knowing which continent China is part of. 
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Mar 13, 2018 21:04
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Toys ‘R’ Us Tells Workers It Will Likely Close All U.S. Stores
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Mar 14, 2018 22:31
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That's depressing. As a weird old, I actually like physically going to the toy store and Christmas/Birthday shopping for my kid. Also, it's fun to take them on a rainy Saturday. I remember when I was a kid Toys R Us was like this magical wonderland, and my son sees it the same way. Going to Wal*Mart or Target just isn't the same at all.
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Mar 14, 2018 22:39
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