Archived Kmart's implosion has been Target's gain

[Guest]

http://money.cnn.com/2015/06/08/inv...line-sears-eddie-lampert/index.html?iid=SF_LN


Article basically says how Target's profits have gone up big time since 2000 while Kmart's have decreased a lot.
67 percent drop off from what they made in 2014 to 2000. Terrible. And the number of stores has been cut by over 50 percent.
How does a company go from making 37 billion dollars in 2000 to 12 billion dollars in 2014?

 

[Flabbergasted]

Kmart, at one point, had something like triple the number of stores Target has at its peak. They were the Walmart of the '80s. Eddie Lampert ruined the company. At Target, Gregg W. Steinhafel and Brian Cornell will bring the company to Kmart status. Sad.

 

[Hardlinesmaster]

Because the property is worth more than the building.

 

[RhettB]

KMart to this day still has several leased storefronts in strip malls. That is just one line on the balance sheet that is too large.... Often to the tune of $30,000 to $50,000 a month. The last leased property Target had in my area was closed and moved to a new company owned location around 8 years ago. Funny thing with that, is that we continued to pay the lease for 7 years even though there were numerous offers to buy the lease. One way to keep competition out of the area. Acquiring Sears was another problem. KMart was already suffering financially, and buying another struggling company was like using gas to put out an almost burnt out campfire. Although I am not one of those guests, there are many who like the upscale trendy designers that Target partners with. The best KMart had to offer was their partnership with Joe Boxer. Most KMarts could also benefit with a fresh coat of paint and some ceiling tile replacements.s Stained sagging tiles are not too appealing. Let's not discuss their staffing levels and the training / customer service of said employees. I'll shop Wal Mart before KMart.

 

[Megaparsec]

Plus, have you ever BEEN to a K-Mart??

 

[Loki]

Every time I go into a K-Mart I feel like I need to take a bath. My mom is obsessed with that place and used to constantly drag me there as a child. If Target ever ends up like that I'm peacing out!

 

[TallAPGuy]

There is still a Kmart in town, a few miles from my store, and it is sketch as hell. There was two of their security guys and a sheriff's deputy stabbed and another two officers were injured last July trying to apprehend a robbery suspect who turned out to be high as a kite on meth and pcp. Couldn't pay me enough to work there.

 

[sher]

I went to Kmart last week lol. Bought some sheets for 14.99. I love Kmart. It's always so empty. I love it haha.

 

[Sushi2Go]

I don't see K-Mart ever turning a profit no matter what they do. Just die already!

 

[Stubio]

I forgot K-mart was even a thing if that tells you anything.

 

[RhettB]

The business model KMart had in the 1970s and early 1980s was successful. However, their model did not evolve with time.

 

[Ringwraith917]

Anyone remember BigK? It was like a SuperTarget, but it was way too late to save the company. The single Kmart left in my area is so run down. Big Lots looks better.

 

[mrknownothing]

My Kmart closed. The closest one to me is ghetto.

 

[daninnj]

One of the Kmarts by my BF was literally halfway between a Target and a Walmart.

Guess what?

It closed down.

 

[HardlinesFour]

"Have you been in a Kmart lately? It is not the nicest place to shop"

- 2005.

Need I say any more?

Kmart... never invested money into their stores. They didn't put aside money for remodeling, or advertising, or anything really. All they did was continue to purchase product, and attempt to market to their current shoppers.

That stops working after a while. You can't expect to retain shoppers, and gain a customer base with no effort.

Also...

The last time I walked into a Kmart, was in the middle of a hot-hot summer, and they had no air conditioning inside the store. It was quite unpleasant to even walk around the store.

Combine this with 30+ Minute wait at the checkout for the "express" lane, and I just walked out.

It doesn't help though, when the automatic door (walking in) is broken, the floor seems dirty and just... not clean, and the whole store looks like a state of disrepair. The 70's - 80's theme, didn't help either.

 

[Guest]

I haven't been to a Kmart this century. There are zero in the metro area that I live in. If I want to go to a Kmart, I would have to drive at least 3 hours away, lol.

 

[HardlinesFour]

I haven't been to a Kmart this century. There are zero in the metro area that I live in. If I want to go to a Kmart, I would have to drive at least 3 hours away, lol.

Sadly, you're not missing much.

 

[On6]

Kmart used to outnumber the Targets in my area 5-to-1 about right before 2000. Now it's the opposite. Actually I'm not even sure where the nearest one is.

In the 80's they were pretty much popping up stores left and right. But never invested in their current stores.

 

[HardlinesFour]

I went to Kmart last week lol. Bought some sheets for 14.99. I love Kmart. It's always so empty. I love it haha.

You should really checkout the domestics section in your store. There's a ton of really good quality, affordable linens if you're really looking.

I've been trying to help a few co-workers at my current store, who are just starting out.

Honestly, I'm somewhat surprised at Bed Bath & Beyond. Seemed like years ago, they had such a larger selection of things, Now... it's just, so-so.

 

[Guest]

I remember going to Kmart a lot when I was a little kid in Chicago and Venture, Sears, and Montgomery Ward. I was always told by my dad to stay away from the dirty magazines and books because back then they sold them.
Good times.

 

[pellinore]

We've had a couple Kmart stores close around here, but there is one store about a 20 minute drive from my house. It's a big store and they have somehow managed to keep this store looking pretty good. I'll go to Kmart long before I'd go to Walmart....and there is a Walmart across the street from my Target.

Just like All Stores are Not The Same with Spot, the same holds true for Kmarts.

 

[buliSBI]

The last Kmart I was in had no selection of CDs just iTune cards. The only DVDs in store were bargain bin selections. Magnavox/Phillips and off brands were the only TVs on display.

 

[Redzee]

The business model KMart had in the 1970s and early 1980s was successful. However, their model did not evolve with time.

Sort of like.....

 

[The Dude Abides]

Target's implosion will be Costco and Amazon's gain.

 

[sher]

You should really checkout the domestics section in your store. There's a ton of really good quality, affordable linens if you're really looking.

I've been trying to help a few co-workers at my current store, who are just starting out.

Honestly, I'm somewhat surprised at Bed Bath & Beyond. Seemed like years ago, they had such a larger selection of things, Now... it's just, so-so.

I don't really buy good quality sheets lol. I buy the RE easy care ones, usually. I initially hated them because they feel like paper, but somehow that's become something I like about them. I used to get the microfiber, but they make me sweat. I had a stint with jersey too, but I hate the way they get sorta contorted in the wash so folding them is annoying. I just went from a twin size bed to a full, though and I was stunned by the price difference of the sheets. Also we didn't have either of the very specific colors I wanted in the easy care. I'd never buy sheets from bed bath and beyond. I wouldn't spend more than $17 on a sheet set lol. I bought a $20 clearance threshold set last night only because I had a free $20 gift card. And because a breeze knocked over a cup and I spilled a drop of coffee on the Kmart set.