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K-Mart Bankruptcy

post #1 of 18
1/22/02 at 9:32am
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K-mart files for bankruptcy today after stock fell to .81 a share. Looks like Wally Mart is kicking retail ass...
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post #2 of 18
1/22/02 at 10:03am
This sucks...So now we have lost Montgomery Wards, and K-Mart is on the brink. Who is next? Sears? Target? Seems as though one cannot be too sure these days.
NoahJ
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NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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post #3 of 18
1/22/02 at 10:41am
One word: Walmart.

They're doing to cheapo retail what Home Depot did to DIY and hardware stores.
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post #4 of 18
1/22/02 at 11:16am
K-Mart sucked anyway. Every time I went in one, there was trash on the floors, dirt everywhere and the floor tiles were popping up.
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post #5 of 18
1/22/02 at 11:24am
Well they say they'll be back once they get things going in the right direction again.
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post #6 of 18
1/22/02 at 11:29am
The thing is, you have K-Marts in cheap, run down strip malls. These are the kind of places which you want to avoid at all costs. K-Mart is also not open when you want them to be. They open at 8 or 9 in the morning, and close at 9 at night.

By comparison, Wal Mart has its own lot entirely (no other stores somehow connected to it), has grocery stores attached (in Super Centers), and some are even open 24 hours a day (like mine). Plus, while K-Mart might have 4 or 5 people working there, Wal-Mart has a ton of workers.

My experience with K-Mart is that their stuff is unorganized, over priced, and of poor quality. Wal-Mart, on the other hand, knows what they have in stock, answers the phone, and is a clean and friendly environment.

That's why K-Mart is going under, and Wal-Mart is striving.
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post #7 of 18
1/22/02 at 12:32pm
[quote]Originally posted by NoahJ:
<strong>This sucks...So now we have lost Montgomery Wards, and K-Mart is on the brink. Who is next? Sears? Target? Seems as though one cannot be too sure these days.</strong><hr></blockquote>

K-Mart sucks. Target's actually got some decent stuff. Same with Sears.
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post #8 of 18
1/22/02 at 4:41pm
Maybe I can by a "blue-light special" light for my own personal use.. heh heh heh heh
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post #9 of 18
1/22/02 at 4:53pm
I've been telling my wife for a year or so that K-Mart is tanking. They suck.

My next door neighbor was employed by Cub Foods who went out of business last year.

She then got a job at K-Mart, running their food side.

Ooops.

I guess she'll work at Sears next.

Sears has some HIGH RENT places, and they (like everyone else) cannot compete with Wal-Mart/Sam's Club Juggernaut.

Can't say it saddens me.

I like Wal-Mart and LOVE Sam's Club.
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post #10 of 18
1/22/02 at 5:07pm
I must have the best K-Mart around. It is clean, organized, the people are knowledgable, and doesnt seem that expensive, just mainly things we can get at the other stores in the 'renovated, fresh mall'

I actually dont like Wal-Mart nor Target. The thing I hate about Wal-Mart is their people greeter, could they have thought of a more demeaning job?

I would prefer a K-Mart sized store or smaller, these mega-stores are destroying the American soul somewhat by driving the smaller stores out of business.

I guess Im in the minority, but I always am.

[Stupid Grammer mistakes]

[ 01-22-2002: Message edited by: MajorMatt ]</p>
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post #11 of 18
1/22/02 at 6:58pm
I shop at K-Mart just because I have a gripe with wal-mart. I agree that the supercenters are destroying american small towns by obliterating their competition, thereby leaving a net loss of jobs and decimating the town's economy (unlike other big stores, Wal-Mart leaves none of its money in local banks). They're in the process of building a Target here in savannah, and i can't wait. The merch is better than K-Mart or wal-mart's, the prices are decent, and I don't feel like I'm betraying my small hometown by shopping there.
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post #12 of 18
1/22/02 at 9:37pm
HHmm

I hear Martha Stewart is coming to the rescue though


Well, so much for independant stores, like mom and pop kinds.... they were left behind along time ago . . . which saddens me

[ 01-23-2002: Message edited by: pfflam ]</p>
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--George W Bush

"Narrative is what starts to happen after eight minutes
--Franklin Miller.

"Nothing...

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post #13 of 18
1/22/02 at 10:49pm
So...Target and K-Mart are the rebellious alternatives to the mom-and-pop-squishing Wal-Mart? I think you're right, pfflam, indie stores are dying fast.

I actually don't mind K-Mart. Target rarely has whatever I'm looking for (maybe a fluke, but one night all I wanted was a pen, a lousy pen, and I couldn't find one anywhere) and Wal-Mart stuff just seems too cheap. Lately it's been downhill, though, with selection thinning out and the stores getting less and less cared for.

One thing I've noticed when I do go to little indie stores is that while prices may be a bit higher, I get some damn friendly and effective service. Maybe I'm just still getting acculturated to the happy-go-lucky Northwest, but maybe it's a reasoned response to cut-rate superstores.
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post #14 of 18
1/23/02 at 2:02am
I shop all over - JCPenney, Filenes, Target, K-Mart, Walmart. Sears has good hardware. My brother-in-law lives at Home Depot but he swears by Walmart's paint. I've found the quality of the stuff I've purchased at Walmart sometimes to be lacking but like Fran said, they do a lot of stuff really well. Walmart took dead aim at K-Mart years ago and the outcome has seemed inevitable for a while now. But I am grateful to K-Mart for establishing Borders. Borders is far and away my favorite book store.

[ 01-23-2002: Message edited by: roger_ramjet ]</p>
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post #15 of 18
1/23/02 at 8:04am
I never knew K Mart established Borders. That's the only good thing I've ever seen from them.
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post #16 of 18
1/23/02 at 8:52am
[quote]Originally posted by EmAn:

<strong>I never knew K Mart established Borders. That's the only good thing I've ever seen from them.</strong><hr></blockquote>

Established probably isn't the best word. I think the original Borders was in Ann Arbor, Michigan. K-Mart bought them out and built the chain from there. I have a friend who was a student in Ann Arbor when this happened. A lot of locals thought it was the end of the world but it wasn't. It just meant that a good idea was brought to my doorstep. It wouldn't have happened otherwise.
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post #17 of 18
1/23/02 at 9:05am
[quote]Originally posted by roger_ramjet:
<strong>

Established probably isn't the best word. I think the original Borders was in Ann Arbor, Michigan. K-Mart bought them out and built the chain from there. I have a friend who was a student in Ann Arbor when this happened. A lot of locals thought it was the end of the world but it wasn't. It just meant that a good idea was brought to my doorstep. It wouldn't have happened otherwise.</strong><hr></blockquote>

Oh alright. I hate that I don't have one really close to me. I guess it's ok though since my local Barnes and Noble has a music section too.
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post #18 of 18
1/23/02 at 6:43pm
[quote]So...Target and K-Mart are the rebellious alternatives to the mom-and-pop-squishing Wal-Mart? I think you're right, pfflam, indie stores are dying fast.<hr></blockquote>

the thing is -- i'm saying target is the alternative because that's all we have down here. in my lifetime, there's never been any other place to buy your "general goods" other than k-mart or wal-mart. once target started making its way down south, that's given us an alternative. i'm not saying it's like the panacea of retail, but it's better than what we've got.
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