R.I.P. Sears

[jnw]

This is really sad. :(. They are filing for bankruptcy on Sunday so I hear.

[Psychstache]

Is this sad? They've been a subpar business for years that did not keep up with competitors or address glaring problems in their business model.

Personally, I have no fond memories or emotional attachment to the business, but I guess others might.

[ILikeDividends]

Just as when Montgomery Ward sputtered and died, I also feel kind of a dull little wistful pang with this news about Sears.

I am not emotionally attached to either business.  But both of those stores anchored the malls I used to frequent so often in my youth.  In those days, just going to the mall for no particular reason counted as a kind of cheap entertainment.

It's as if parts of the memory of my youth are slowly being wiped away.

(Sniffle.)

O.k., I'm done. There's only so much sentimentality even I can take!

 

[smoghat]

I haven’t been in a Sears in 7 years or so. Boy, they blew it big time.

[Daley]

Won't surprise me if they do.

"Congratulations, Eddie, you made a fortune off of destroying an American institution. What're you gonna do now?"

"I'm going to Disney World™!"

[effigy98]

This story will repeat itself as Amazon continues to gather market share and there is still a lot of market share available. All the retailers are putting tiny band aids over gushing wounds to try to keep up. I think the only retailers that will survive are in markets that can coexist with Amazon like Costco and Home Depot.

[jnw]

Yeah I haven't shopped in department stores for the 9 years or so.  I've been an Amazon shopper for some time now.  I always liked how I could read the reviews before I bought.  I've been burnt so many times buying shoddy items from department stores over the years (I'm 47).  A time saver as well.

[sol]

I will miss it.  My (now deceased) grandmother used to speak fondly of Sears, because she worked for them for years and did much of her shopping there.  The Sears corporation put my family on the road to middle class success.  They not only provided a steady paycheck for reliable workers, but retirement benefits and healthcare and a steady stream of reasonably priced and well-made American goods.

In my youth Sears was a place you bought tools and appliances, but when she was young you could outfit your entire house.  You could even buy a house.

[Christof]

I've been an Amazon shopper for some time now.

My first Amazon invoice had a logo that was a river that looked like an A, February 1997. I'm not necessarily buying everything at Amazons, but it definitely is what I use to figure out if a product is good or what the retail price should be. I even check used products on Amazon first, even when I buy on ebay Kleinanzeigen (the German version of craigslist).

[Debts_of_Despair]

Not my favorite store but it always sucks when there is less competition.  Macy's, Bon-Ton and Sears, all gone from my area.  JC Penney is the only store of that type that remains.

[ILikeDividends]

Not my favorite store but it always sucks when there is less competition.  Macy's, Bon-Ton and Sears, all gone from my area.  JC Penney is the only store of that type that remains.

JC Penney's might be the next iconic domino to fall.  They've installed a revolving door in the CEO's office, and they're just flailing right now while the debt refinance clock ticks down:

https://www.forbes.com/sites/brittainladd/2018/07/15/killing-jc-penney-can-the-iconic-retailer-be-saved/#2cb7455661bf

Kind of ironic that an acquisition by the retail killer, Amazon, might be one of its few viable options for survival of some kind.  In a Darwinian way, it kind of makes sense that the lion should eat its own kill.

[marty998]

Sometimes I think it would be better if a CEO can see the writing on the wall and pull the plug on a business when times are relatively good. At the very least, put it up for sale to a competitor who can turn it around.

Not great seeing a business die a slow, painful death over 5 years until such point where staff can't be paid entitlements, suppliers won't be paid for goods provided and shareholders end up being diluted to nothing.

[HPstache]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

[seattlecyclone]

I think we've purchased two things from Sears in the past ten years: a mattress and a dishwasher. Given that plenty of other retailers sell these things, I can't say I'm going to miss them one bit. There's certainly a lot of history behind that company, but this just shows that you have to keep reinventing yourself to stay relevant in the business world.

[smallstache]

I don't buy much of anything. But when I do, I would rather buy it from a person, not some computer screen staring back at me. We used to go to Sears a lot...for tools, clothes, appliances, and especially the portrait studio.  But that was years ago, before Eddie Lambert ran the chain into a six-foot hole.

[ChpBstrd]

Speak for yourself. I bought SHLD put options six months ago. They're still a decent deal.

[PDXTabs]

They've been a subpar business for years that did not keep up with competitors or address glaring problems in their business model.

I would concur. Specifically, the abandoned a bunch of their core business. When my grandfather shopped there they still sold rifles. When I shopped there they still sold tools, especially Craftsman.

What do they have left that is unique to them?

[heybro]

I think Sears's slow decline (and Eddie's gradual siphoning of the assets in to his REIT Seritage) is absolutely fascinating stuff.  Sears has delayed this so long, it will just be amazing to finally see it happen.  They have not had a profit since 2010.

[reeshau]

I wonder if those who deemed Eddie "the next Warren Buffett" knew just how close they would come.  Berkshire Hathaway is a *failed* textile mill, that Warren took over and admits he put too much money and effort into trying to save.  It didn't go bankrupt, but it did shut down.

[ILikeDividends]

I wonder if those who deemed Eddie "the next Warren Buffett" knew just how close they would come.  Berkshire Hathaway is a *failed* textile mill, that Warren took over and admits he put too much money and effort into trying to save.  It didn't go bankrupt, but it did shut down.

And it is now worth $301,000 per share.

[jnw]

Just as when Montgomery Ward sputtered and died, I also feel kind of a dull little wistful pang with this news about Sears.

I am not emotionally attached to either business.  But both of those stores anchored the malls I used to frequent so often in my youth.  In those days, just going to the mall for no particular reason counted as a kind of cheap entertainment.

It's as if parts of the memory of my youth are slowly being wiped away.
(Sniffle.)
O.k., I'm done. There's only so much sentimentality even I can take!

Yeah I grew up in the 70's & 80's and I remember going to Sears and Kmart as well. Kmart was just down the block from us.  I remember the blue light special lol.  Was entertainment walking around in Sears and the mall not buying anything.

[ChpBstrd]

I wonder if those who deemed Eddie "the next Warren Buffett" knew just how close they would come.  Berkshire Hathaway is a *failed* textile mill, that Warren took over and admits he put too much money and effort into trying to save.  It didn't go bankrupt, but it did shut down.

And it is now worth $301,000 per share.

I suppose the difference is whether or not a company decides to pivot away from a failing business model and do something else with its remaining resources and credit. In contrast to Buffet, Eddie never reinvested - he merely looted Sears for what he could and lost money/time in the process. Imagine an alternative world where Amazon.com and Sears.com were the two main online retail competitors. Then the Buffet comparison would have been appropriate.

[coppertop]

Last time I was in a Sears, I was looking for towels for my recently remodeled bathroom.  I found shelves mostly empty, and what was there was shoddy merchandise such that I would never buy.  I haven't been back since. It was too depressing. 

When I was a young mom in the 80s, Sears was a godsend.  There was no Amazon then, of course.  If one of my three small children needed a snowsuit or pajamas, I'd pull out the Sears catalog and put my order in over the phone.  In a few days, I'd get a call, telling me that my order was in at the pick-up center at a strip mall near my house.  After my husband came home from work at night, I'd just leave the kids with him for a few minutes while I picked up my order. Easy-peasy.  Now Amazon and others are even easier, with on-line ordering and delivery right to the house or office.  It was just a matter of time for Sears.

[TrudgingAlong]

I really am not too thrilled about Amazon being the only true retailer option. I’ve noticed it’s quality gone down while prices have gone up (warehouse deals in particular used to be checked - I don’t buy them anymore because they have come outright broken or damaged in a way to make them useless). How much worse will that be when they have killed the competition?

I buy mostly second hand at this point, but do make a point to shop in town for things I don’t have to order online because of this.

[sol]

As much as we lament the demise of brick and mortar retailers, Amazon is a genuinely amazing company.  As an example: my computer graphics card has been acting up for several weeks, causing screen locks and reboots.  I could get in my car and drive to Best Buy to get a new one, but Amazon has every graphics card ever made, typically charges about 2/3 as much as Best Buy, and will deliver it to my house in less than 8 hours.  For all I know, it's coming off the shelf at Best Buy and being driven over here by a contractor, for less money and less effort to me than if I had driven to Best Buy to get it for myself.

If the future of retail includes paying less money for a wider selection of goods that magically appear at my doorstep in less than a day, then the Sears/MWard/Penny's model has been eclipsed.  We don't need them, just like we don't necessarily need cable companies in the era of Netflix and we don't need tiny hotels in the era of AirBnB and we don't need physical newspaper delivery in the era of online news.  These old-style service companies have to find a way to stay useful and relevant if they want to compete with evolving superior alternatives. 

Best Buy is hanging in there, for example, by catering to people (largely senior citizens) that want to physically touch things before they buy them, and have a salesperson walk them through the process.  Good for them, that's a value-added way to keep your store useful, but for people who already know what they want to buy and want the lowest price and the most convenience, amazon is a better option.  I have no idea if amazon's current stock prices is in any way appropriate, but I still think they're a great company.  Well, great for consumers and investors anyway.

[theolympians]

"AAAAHHHH remember when....."....I too have a soft spot for sears. As a kid in the 70's-80's I was always so excited for their Christmas catalogue to come out every year. It was so thick and heavy it would would stop a .45, lol. There was a huge Sears in my hometown growing up. I believe in the early 1900's you could order a house and have the plans and every thing you would need to build it from them. Haven't been in one in the last decade or so. Went in for an appliance or something.

I read an article about them within the last few years. It read like fiction. The CEO was said to live on an island somewhere  and would hold business conferences by video and was out of touch. The article had kind of a Howard Hughes feel.

[RWD]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

The Craftsman brand was sold to Stanley Black & Decker (March 2017) and have been available at Lowe's since April 2018. The manufacture of the tools had already starting shifting overseas (mostly China) in 2010.

[big_owl]

"AAAAHHHH remember when....."....I too have a soft spot for sears. As a kid in the 70's-80's I was always so excited for their Christmas catalogue to come out every year. It was so thick and heavy it would would stop a .45, lol. There was a huge Sears in my hometown growing up. I believe in the early 1900's you could order a house and have the plans and every thing you would need to build it from them. Haven't been in one in the last decade or so. Went in for an appliance or something.

I read an article about them within the last few years. It read like fiction. The CEO was said to live on an island somewhere  and would hold business conferences by video and was out of touch. The article had kind of a Howard Hughes feel.

Yeah me too. I still remember picking out Super Mario 2 from the catalog when it came out one year.

I moreso miss Service Merchandise.  I used to get my watches and calculators from that store. Such fond memories of buying the item and then having to wait for it to come down that little conveyor belt!  I still use my HP-48GX that I got from there daily at work.

[expatartist]

I will miss it.  My (now deceased) grandmother used to speak fondly of Sears, because she worked for them for years and did much of her shopping there.  The Sears corporation put my family on the road to middle class success.  They not only provided a steady paycheck for reliable workers, but retirement benefits and healthcare and a steady stream of reasonably priced and well-made American goods.

In my youth Sears was a place you bought tools and appliances, but when she was young you could outfit your entire house.  You could even buy a house.

My now deceased grandfather worked for Sears for decades after he came back from WWII. It brought them from struggling to middle-class. I can't recall shopping  there with parents aside from large appliances which we kept for decades. By then they felt top-heavy and not a great value.

[OzzieandHarriet]

As much as we lament the demise of brick and mortar retailers, Amazon is a genuinely amazing company.  As an example: my computer graphics card has been acting up for several weeks, causing screen locks and reboots.  I could get in my car and drive to Best Buy to get a new one, but Amazon has every graphics card ever made, typically charges about 2/3 as much as Best Buy, and will deliver it to my house in less than 8 hours.  For all I know, it's coming off the shelf at Best Buy and being driven over here by a contractor, for less money and less effort to me than if I had driven to Best Buy to get it for myself.

If the future of retail includes paying less money for a wider selection of goods that magically appear at my doorstep in less than a day, then the Sears/MWard/Penny's model has been eclipsed.  We don't need them, just like we don't necessarily need cable companies in the era of Netflix and we don't need tiny hotels in the era of AirBnB and we don't need physical newspaper delivery in the era of online news.  These old-style service companies have to find a way to stay useful and relevant if they want to compete with evolving superior alternatives. 

Best Buy is hanging in there, for example, by catering to people (largely senior citizens) that want to physically touch things before they buy them, and have a salesperson walk them through the process.  Good for them, that's a value-added way to keep your store useful, but for people who already know what they want to buy and want the lowest price and the most convenience, amazon is a better option.  I have no idea if amazon's current stock prices is in any way appropriate, but I still think they're a great company.  Well, great for consumers and investors anyway.

For me, the problem with Amazon is the horrible way they treat their employees - overworked, underpaid, poor working conditions. I suspect a lot of this convenience comes on their backs. And then there are all the bookstores, niche businesses, and community connections that have been destroyed by this giant.

That said, I do shop there because in a lot of cases it's the only viable option. It IS convenient to spend five minutes shopping and have the thing delivered to your door the next day.

If you go back to the early days of retailing in the U.S., a lot of it was mail order, too. But certainly at a a more leisurely pace.

[sol]

For me, the problem with Amazon is the horrible way they treat their employees - overworked, underpaid, poor working conditions. I suspect a lot of this convenience comes on their backs.

A lot of modern capitalism is built on the backs of exploited workers around the world, and Amazon has just found a way to "create American jobs" by exploiting local American workers instead of just the Vietnamese ones.  Most of the labor that makes our lifestyle possible is very much "overworked, underpaid, poor working conditions" but most of us don't mind when those poor folks are Chinese factory workers or Indonesian seamstresses.  Why is it suddenly so much more problematic when they're American college drop-outs?  At least here in America, the workers that Amazon exploits get health insurance and sick leave, and work in facilities with functioning fire alarms and proper ventilation.

I agree that Amazon treats some of their workers in a less than stellar fashion.  Everything I've read about those warehouse picking jobs suggests those people bust their asses all day for $13/hr, but at least it's honest work.  I suspect lots of American workers are not accustomed to sweating for an 8 hour shift, but that doesn't necessarily mean they are being exploited in anything resembling the same way that other workers that you also rely on are typically exploited. 

This is just one of the side effects of the modern economy.  Some people make $100/hour to sit in a cubicle and answer emails, and some people make $10/hour to do repetitive physical labor, and some people make $1,000/hour to craft vision statements and talk to shareholders.  It takes all kinds, in varying proportions.  The byproduct of spreading all of this material abundance to everyone in America is an ever-widening gulf between those at the top and those at the bottom of the pyramid.  At least Amazon is moving some of those at the bottom from third world free trade zones to your neighborhood where they are more visible.

Is this model better than what Sears used to offer?  Probably not, but I also think it's an inevitable consequence of globalism.  Amazon is at least moving us slightly back in the right direction, after 20 years of fully exporting our capitalist exploitation to poorer countries.

[theolympians]

For me, the problem with Amazon is the horrible way they treat their employees - overworked, underpaid, poor working conditions. I suspect a lot of this convenience comes on their backs.

A lot of modern capitalism is built on the backs of exploited workers around the world, and Amazon has just found a way to "create American jobs" by exploiting local American workers instead of just the Vietnamese ones.  Most of the labor that makes our lifestyle possible is very much "overworked, underpaid, poor working conditions" but most of us don't mind when those poor folks are Chinese factory workers or Indonesian seamstresses.  Why is it suddenly so much more problematic when they're American college drop-outs?  At least here in America, the workers that Amazon exploits get health insurance and sick leave, and work in facilities with functioning fire alarms and proper ventilation.

I agree that Amazon treats some of their workers in a less than stellar fashion.  Everything I've read about those warehouse picking jobs suggests those people bust their asses all day for $13/hr, but at least it's honest work.  I suspect lots of American workers are not accustomed to sweating for an 8 hour shift, but that doesn't necessarily mean they are being exploited in anything resembling the same way that other workers that you also rely on are typically exploited. 

This is just one of the side effects of the modern economy.  Some people make $100/hour to sit in a cubicle and answer emails, and some people make $10/hour to do repetitive physical labor, and some people make $1,000/hour to craft vision statements and talk to shareholders.  It takes all kinds, in varying proportions.  The byproduct of spreading all of this material abundance to everyone in America is an ever-widening gulf between those at the top and those at the bottom of the pyramid.  At least Amazon is moving some of those at the bottom from third world free trade zones to your neighborhood where they are more visible.

Is this model better than what Sears used to offer?  Probably not, but I also think it's an inevitable consequence of globalism.  Amazon is at least moving us slightly back in the right direction, after 20 years of fully exporting our capitalist exploitation to poorer countries.

At least Amazon is honest work (as noted above). There is the lure of moving up in the company to be the guy/gal that answers e-mails. This is just the newest facet of retail. Amazon is the new Sears; or where Sears was in the 1920's.

I think it's the type of work as well that draws "college dropouts" to the warehouse. Normally hipster types wouldn't be at all interested in blue collar work. I am thinking that they see it as "trendy" or on the cusp to work there in almost any capacity; "I work for Amazon".

Digressing somewhat, I wonder if many of the hipsters would flock to "Fred's warehouse" for the same amount of money. Though I hope I am wrong. We  have friends that manage a house cleaning business in an upscale area (some people will pay tens of thousands of dollars per year to have someone to clean their house). They pay $15 an hour to start, and work in teams of three. No americans respond to the job offers that aren't druggies. They staff them with (legal) Portuguese immigrants. Go figure.

[nick663]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

The Craftsman brand was sold to Stanley Black & Decker (March 2017) and have been available at Lowe's since April 2018. The manufacture of the tools had already starting shifting overseas (mostly China) in 2010.

The quality has steadily declined over the last couple decades.  Some bean counter figured out that it was cheaper to build mediocre tools and warranty the few that broke instead of building high quality tools that you never had to warranty.  Then the company started having financial troubles and took any quality out of the product line that was remaining.

The last socket I received (via warranty) looked like it came out of one of those cheap Stanley sets.  I've seen nicer stuff at Harbor Freight.

[Debts_of_Despair]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

Yup, that ship sailed a long time ago.  I still try to pick up the Made in USA stuff at estate sales, etc. when I can.  Everything made in the last ~8 years has been garbage.  If I wanted to buy garbage I'd get it at Harbor Freight for a third of the price.

[Blindsquirrel]

   Kinda sad to see them go in a way but I agree with you on Craftsman tools, I used to drool over their Master Mechanics set in the 80s. I loved their tools and warranty. I still have most of my set from HS and we gave sets as wedding gifts to motor head buddies.  Now, their tools are the same as Harbor Freight. Their socket drivers used to have fat round handles that fit your hand great, now the have a thin flat handle that cuts into your hand when you use much force. The writing was on the wall for this a long time ago.

[DS]

First job was with Sears. That store closed in '10 I think. Definitely had a "sinking ship" feel to it working there.

[theoverlook]

For me, the problem with Amazon is the horrible way they treat their employees - overworked, underpaid, poor working conditions. I suspect a lot of this convenience comes on their backs. And then there are all the bookstores, niche businesses, and community connections that have been destroyed by this giant.

I think the "poor working conditions" are generally overstated. They're warehouse jobs, and for the most part the description of the jobs sound like people got a hard job and were surprised when it was hard. Warehouse jobs involve long shifts without air conditioning and without places to sit. That's not unusual or exploitative - it's just surprising to someone used to office or retail work.

On to Sears: I have stories about attempting to buy stuff there like everyone else. They were a great store back in the day, but those days are long gone. Lampert will make money but he's gutted an American institution just like the other corporate raiders did to other similar companies previously.

[appleshampooid]

I really am not too thrilled about Amazon being the only true retailer option. I’ve noticed it’s quality gone down while prices have gone up (warehouse deals in particular used to be checked - I don’t buy them anymore because they have come outright broken or damaged in a way to make them useless). How much worse will that be when they have killed the competition?

I buy mostly second hand at this point, but do make a point to shop in town for things I don’t have to order online because of this.

Amazon still has online competition. Jet.com is the new kid on the block, and Walmart bought them to try to jump-start their ecomm division. Marc Lore, CEO of Jet and head of all Walmart e-commerce, is an innovator and they are trying to compete. Will they succeed? I dunno, but Walmart has enough money to keep trying and failing and trying something else for a while.

I was on the inside of that machine for a short time (~10 months) at my last employer, which was purchased by Walmart (via Jet.com) as part of a series of small acquisitions. So I was a Walmart employee for a short time. I left for unrelated reasons (didn't have any problem with being a Walmart employee on principle).

Wayfair is competing on home goods. You can shop on AliExpress in the states, but that's not really a valid competition to Amazon when your goods come literally on the slow boat from China (had this experience recently on a headphone cable I couldn't find anywhere domestically).

Anyway, Amazon is definitely the gorilla in the room, but they're not a monopoly just yet.

[effigy98]

I have used Jet.com and walmart.com wondering if it is some competition with Amazon (amazon is one of the few individual stocks I own). Amazon is a much better experience from login, ordering, reviews, to after the purchase customer service. The only thing Jet.com and Walmart.com have sometimes, is better prices. Out of the 5 or so walmart orders I have had 2 damaged and the customer service to get them replaced was not good where Amazon is mostly automated, reminds me of an online version of Nordstrom's. The stock seems irrational, but I have never loved a company as much as Amazon, so even if it ends up being a donation, I am happy to keep a small "fun money" portion of the portfolio allocated to AMZN.

[ender]

As much as we lament the demise of brick and mortar retailers, Amazon is a genuinely amazing company.  As an example: my computer graphics card has been acting up for several weeks, causing screen locks and reboots.  I could get in my car and drive to Best Buy to get a new one, but Amazon has every graphics card ever made, typically charges about 2/3 as much as Best Buy, and will deliver it to my house in less than 8 hours.  For all I know, it's coming off the shelf at Best Buy and being driven over here by a contractor, for less money and less effort to me than if I had driven to Best Buy to get it for myself.

If the future of retail includes paying less money for a wider selection of goods that magically appear at my doorstep in less than a day, then the Sears/MWard/Penny's model has been eclipsed.  We don't need them, just like we don't necessarily need cable companies in the era of Netflix and we don't need tiny hotels in the era of AirBnB and we don't need physical newspaper delivery in the era of online news.  These old-style service companies have to find a way to stay useful and relevant if they want to compete with evolving superior alternatives. 

Best Buy is hanging in there, for example, by catering to people (largely senior citizens) that want to physically touch things before they buy them, and have a salesperson walk them through the process.  Good for them, that's a value-added way to keep your store useful, but for people who already know what they want to buy and want the lowest price and the most convenience, amazon is a better option.  I have no idea if amazon's current stock prices is in any way appropriate, but I still think they're a great company.  Well, great for consumers and investors anyway.

It is interesting to see this from my perspective, particularly as it applies to smaller towns.

In some sense, in larger metro areas, the "order to door" time is becoming absurdly low. But even in smaller towns, where the delivery time might be longer, the overall availability becomes more meaningful. When before you may have been lucky to have a Walmart 30 minutes from you, now you have access to all of Amazon arriving in a few days.

The convenience factor of online ordering has meant that I order nearly everything I do not need immediately off Amazon. Even things like diapers are actually cheaper on Amazon plus free delivery.

It's also interesting to think about the differences in online vs brick/mortar stores as far as customer retention go. While Amazon is currently dominating the online space, as more companies follow that model (Walmart for example has occasionally had things much cheaper than Amazon in my experiences and has a fairly significant online store now) our mobility as customers skyrockets in a way that is more difficult for physical stores. I can trivially buy from whatever online vendor I want. I cannot, for example, go to a Costco if there is no Costco close to me physically. But if I order online, that becomes easier.

Another effect seems to be B/M stores being more willing to provide "place order online, pickup in store" options. I have seen several of these in local stores recently and am wondering if that trend will continue as another way to compete with the ease of ordering online.

[jnw]

Well the Chapter 11 bankruptcy judge says Sears gets to stay in business.

(I just bought 297 shares of Sears today, as a result for $100, just for fun.  Bought it when it climbed 6% and now it's up 22% so far. Of course I am not smart enough to know when to sell.  Don't know what it has potential to climb to now.)

[ChpBstrd]

Well the Chapter 11 bankruptcy judge says Sears gets to stay in business.

(I just bought 297 shares of Sears today, as a result for $100, just for fun.  Bought it when it climbed 6% and now it's up 22% so far. Of course I am not smart enough to know when to sell.  Don't know what it has potential to climb to now.)

Congratulations, but I would sell now. You'll make lunch money after commissions.

[jnw]

Regarding commissions, there aren't any; I used Robinhood :)

[seattlecyclone]

When a company goes bankrupt the stock almost always goes to zero eventually. I'd quit while I was ahead.

[Dr.Jeckyl]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

Sears sold Craftsman to Stanley last year. They will survive. Whether the quality of the hand tools will continue is yet to be seen. The quality of their power tools went downhill years ago. My dad's 35 year old Craftsman's Best circular saw is awesome and I have gotten rid of newer saws that were newer and not as good.

[jnw]

Geesh, SHLD up 100% .. I am up 84% on that $100... still haven't sold.. gah.

[jnw]

Okay I got nervous and sold.  $93 profit today on the $100 invested today. $193 total.

[RWD]

Okay I got nervous and sold.  $93 profit today on the $100 invested today. $193 total.

High stakes!

[jnw]

Dang I was lucky -- sold at the very peak.  I was watching the candles and it had 2 or 3 in a row that didn't look real good so that's why I sold at 105% gain.  It immediately dropped down to 65% gain.   It's at 70% now.

[HBFIRE]

Craftsman tools at Sears were always good quality for their value.  That's what 95% of my toolbox is filled with.  It bugs me that their new stuff is no longer stamped "Made in the USA".  I believe craftsman tools will still be sold elsewhere, but it will not be the same.

Sears sold Craftsman to Stanley Black & Decker a couple years ago.  Not sure if they changed how they manufacture the tools.