DVD Talk
Has K-Mart closed in your area??? [Archive] - DVD Talk Forum

PDA

View Full Version : Has K-Mart closed in your area???


zx83
01-07-02, 06:32 AM
Saw this on Fox News..they apparently stated that some K-Mart stores will be closing permanetly for good ( going out of business). I needed to know for sure so I drove to the one near my home and asked the manager and he stated that his store will be closing in two months.
I'm keeping a close look out on this, I want to know how cheap their DVD's will be priced at.
Has anyone got lucky yet?? let me know, thanks:D

Adboy151
01-07-02, 06:58 AM
As this pertains to the financial stability of one retailer and potential bargains over a general DVD discussion... Moving to the Store forum...

- C

jpcamb
01-07-02, 10:14 AM
none yet in my area but I alos heard the whole chain was probably going Ch 11 protection soon.

John-In-VA
01-07-02, 12:31 PM
Maybe they will have The Mummy Ultimate Edition for $9.94 :D

milo bloom
01-07-02, 01:08 PM
There have already been some Kmart closings in the CHI burbs here, and in the past all the really nice stuff like DVDs and current videogames gets shipped to other, stable stores, or back to the manufacturer. This also includes CDs and any "good" electronics.

Tell you what though, if you were a Jar Jar Binks fan, you could have cleaned up! :)

lodger_001
01-08-02, 01:04 AM
good luck...K-Mart shipped all the dvd's off as soon as they started their going out of business sale here.

SirPablo
01-09-02, 12:25 AM
NO WAY would they reduce the price on their DVDs, they would just ship them out to other stores, just as other members have stated.

Eclipse
01-09-02, 11:53 AM
The KMarts in my area have so few dvds as it is that it would be a no-brainer that hey would just ship whatever it is they have left out. They seem to have a pattern of only getting cheap catalog releases and new releases...once they sell out they never get the same ones back in.

I had about $100 in KMart giftcards that I was used up in the last couple of days. If they are lucky they will go chapter 11, which is restructering, they could easily go chapter 13 which means they lock the doors without notice and don't open up again.


E

BizRodian
01-12-02, 12:46 AM
The K Martm chain went bankrupt in my area at least ten years ago. Wal Mart moved in a few years later to all their old stores.

Clemson656
01-13-02, 08:20 AM
I talked to a manager at my locak K-mart. She said that this K-mart would not be closed. Only other locations that didn't make profits would be closed.

I don't shop at K-mart very often, but I think this is a good news. Too many people have been laid off in this downside of economy. At least, some still have their job.

Jobronie
01-15-02, 07:13 AM
My wife's uncle is a top exec with a knock-off camera company who manages the placement of their product in all the major stores: K mart, WalMart, Target, and many more. He deals with the inner workings of these companies on a daily basis. In addition to this, the guy is incredibly astute in MANY types of business dealings.

About 18 months ago, we were talking about the state of retail, the internet, yada yada yada. Without my going into boring detail, he said that the way Kmart operates is SO screwed up that he figured they would be out of business in around three years, five years tops. EX: to get an item of his into Walmart, he has to get it cleared by ONE person (two at the most); to get the same item into Kmart, it has to be OKed by so many people he actually lost count. This takes so long and is so confusing, that nothing ever gets done at Kmart......

icondude
01-15-02, 12:10 PM
Originally posted by Jobronie
he said that the way Kmart operates is SO screwed up that he figured they would be out of business in around three years, five years tops.

I used to feel the same way about my ex employer, Bethlehem Steel. I was always constantly amazed how inefficient a place could be if they decided they didn't want to make a profit. Anyway, it took them more than 10 years before they actually declared bankruptcy.

Rainman15
01-16-02, 07:30 AM
Originally posted by ssrioon
I talked to a manager at my locak K-mart. She said that this K-mart would not be closed. Only other locations that didn't make profits would be closed.

I don't shop at K-mart very often, but I think this is a good news. Too many people have been laid off in this downside of economy. At least, some still have their job.

These comments were comfirmed by what's in the economic news today. The article stated that poorly performing stores will be closed and that K-Mart was seeking additional bank funding to provide operating funds as a result of a disappointing holiday sales season. Looks to me like K-Mart will be following the same path as Bradlees. Personally, it makes little differnce to me, but I feel badly for those who may lose their jobs.

Heat
01-16-02, 12:13 PM
K-Mart stock is down to $1.44, it had been in the $12 range as of August.

icondude
01-16-02, 12:57 PM
I'd really hate to see Kmart go. My local WalMart always has lines so long that I pretty much avoid it. Plus I'm upset at all the censorship that goes on at WalMart, ever since they decided that they didn't want to sell Howard Stern's books.

Presumably WalMart will raise prices if Kmart goes under...

Seeker
01-16-02, 01:16 PM
They may all close if they're not careful...

or just declare bankruptcy and keep going...

Eternia
01-16-02, 06:17 PM
I have like a K-Mart, two Big Ks, and a Super K by me. None are closing. Two Ames stores did though. I am glad, Hills was much better. Down with the green!

btbrossard
01-16-02, 09:54 PM
If Kmart does not get it's act together in short order, they will have to file chapter 11. Kmart stock fell to a new 52 week low today in trading ($1.26). Kmart stock will most likely continue to fall tommorow as Kmart Executives continue to not speak to investors.

Martha Stewart can (and most likely will) pull her brands from Kmart if they do file for chapter 11. Martha will not go down with the Kmart ship. Martha now makes up most of Kmart.

From Cnn Money


S&P said that since Monday, two companies, which it did not name, that provide intermediate financing for suppliers "have begun advising their clients to withhold shipments to Kmart.


Kmart in freefall artical from CNN
http://money.cnn.com/2002/01/16/companies/kmart/index.htm

jiggawhat
01-17-02, 01:45 AM
They have the worst customer service policy in the world or they keep hiring the dumbest people in the world. One thing I will say is I hate K-Mart. And I say good riddance to bad rubbish. Once their stock goes under a dollar, that will be the end of them. Hopefully.

Aaron Amos
01-19-02, 10:05 PM
The K-Mart here in Vacaville,CA closed here about 5-7 years ago when Wal-Mart came to my city. The only other K-Mart in my area that is still open is in Fairfield,CA(about 8 miles away).It's in bad neighborhood. Their DVD's are locked up ,You can see what titles they have but you have to get someone to open them for you.I'm not sure when this K-Mart will close . I suspect soon. After all there's a Wal-Mart a few miles away that everyone in this city loves to shop at.

PunkYou
01-20-02, 12:30 AM
We have 2 K-Marts, a Wal-Mart and a Target here in Bloomington....I'd have to think they'd shut down one of the k-mart stores here.

JesseCuster
01-20-02, 02:15 AM
The astonishing thing about K-Mart is that, no matter how much they've been dominated by WalMart over the past decade or so, they've learned almost nothing from it. That takes talent and an unbelieveably inefficient and stagnant upper management structure. In the end, sheer stupidity is what will have done in K-Mart.

BTW, my local K-Mart (unbelievably, still operating) still has it's DVDs at it's usual uncompetitive prices. :(

Gunshy
01-20-02, 11:34 AM
I'm not crazy about the K-Marts and Wallmarts (and Service Merchandises) of this country but whole chains closing down, as K might, is not good for a recession nor the folks who will lose their jobs and possibly not find ones to replace them :(

Just remember to KYDJ, if you can.

-Gunshy

http://www.mohawk.net/~stuart/img/MrDoFreeGuy.gif

mee2
01-20-02, 04:57 PM
I see Target as being the dominant retailer in the future. Target stores have a higher profit to cost margin that Wal-Mart due to ther lower overhead. Wal-Mart stores (many of which are open 24 hrs which increases their overhead) has the lowest profit margin of the two due to their lower prices and operating costs.

Althou i used to work at at Target distribution center and i despise their mother company Dayton Hudson, i must say i'm impressed by their corporate infrastructure.

madcougar
01-20-02, 10:30 PM
Originally posted by mee2
I see Target as being the dominant retailer in the future. Target stores have a higher profit to cost margin that Wal-Mart due to ther lower overhead. Wal-Mart stores (many of which are open 24 hrs which increases their overhead) has the lowest profit margin of the two due to their lower prices and operating costs.

Don't know much about any of this, but a recent article I read stated that Wal-Mart's sales were up 15% in 2001, more than any other retailer. The story also stated that in a head-to-head comparison, Super Wal-Marts were outperforming Super Targets.

Know to the topic at hand, yes K-Mart has closed a few stores in this area. I couldn't care less since I don't shop there. As for their DVDs, they are always locked away behind glass, so it's almost impossible to find what you want or see if anything is on sale.

Jeeden
01-21-02, 10:50 PM
Today on NPR they had a report that many suppliers to K-Mart such as grocery and electronics suppliers have now stopped shipping to the stores because they haven't been payed for the product by K-Mart in many months. One number thrown up was $78 million owed to suppliers. They said that Martha Stewart is waiting to hear from K-Mart if they want her line of stuff to stay even though she has been given huge offers from Target, Walmart, Kohls etc.

Quatermass
01-22-02, 09:11 AM
It's official.
http://dailynews.yahoo.com/h/nm/20020122/ts/retail_kmart_dc_2.html

Movie_Man
01-22-02, 11:08 AM
Just heard on the news that they may close up to 500 stores. K-mart probably won't go away completly, but could vertainly get smaller.

Just an aside, I hate K-mart. The few times that I've been into one, they are always messy, cluttered, and the clientele is less than desirable.
I really wish I had a Wal-mart within 15 of me though. I would not be at all upset if Wal-Mart came and took over a local K-mart.

Rainman15
01-23-02, 07:38 AM
Just an aside, I hate K-mart. The few times that I've been into one, they are always messy, cluttered, and the clientele is less than desirable.
[/B][/QUOTE]

Gee, I thought it was just the K-Mart in Salem, N.H. I guess this may be part of their many problems.

RTG -Styx
01-24-02, 07:09 PM
Originally posted by Rainman15
Just an aside, I hate K-mart. The few times that I've been into one, they are always messy, cluttered, and the clientele is less than desirable.


Gee, I thought it was just the K-Mart in Salem, N.H. I guess this may be part of their many problems. [/B][/QUOTE]

The one is Manchester, NH is pretty bad as well. I went in to see what DVD's they had and I could not find one. All they had was VHS movies.

The Londonderry K-Mart is decent off exit4 on 93. I bet they will close the scummy stores before they close the nice ones.

Eternia
01-25-02, 12:08 PM
Originally posted by mee2
I see Target as being the dominant retailer in the future. Target stores have a higher profit to cost margin that Wal-Mart due to ther lower overhead. Wal-Mart stores (many of which are open 24 hrs which increases their overhead) has the lowest profit margin of the two due to their lower prices and operating costs.

I am not a big Target fan. We have two in my area and I just do not care for their selection. I usually shop those stores just for things that I need cheap, like blank VHS tapes or a blank minidisc, perhaps a cd or like notebooks. Target is usually more expensive and do not carry the brand of VHS tapes I use. Not that I like Wal-Mart either. I am glad Wal-Mart is open 24/7. I have been known to go to Wal-Mart at midnight. I hate it when there are 50,000 people there and won't get out of my way. :)

J-Dubya
01-25-02, 12:23 PM
If Martha moved to Target she could really rake the dough in. My local Kmart is getting low on dvd/vhs inventory. Not that it was a lot before, but I noticed the other day that the section looked half-empty. If they cleared out some of the aisles, got new floors and new racks/shelves, they might get somewhere. Oh yeah, hire some cashiers, I've never seen more than 3.

RDYoung
01-25-02, 01:16 PM
Originally posted by J-Dubya
If Martha moved to Target she could really rake the dough in. My local Kmart is getting low on dvd/vhs inventory. Not that it was a lot before, but I noticed the other day that the section looked half-empty. If they cleared out some of the aisles, got new floors and new racks/shelves, they might get somewhere. Oh yeah, hire some cashiers, I've never seen more than 3.

I think that Martha Stewart and Target would be a perfect match, looking at the types of things Target sells. It would also cement my never going into a target for any household products at all.

Personally, I think that the Martha Stewart line was and is a bad thing. I don't like any of the products, and they are all so over the top that you ar forced to coordinate in order to buy anything. I wanted plain old pot holders. Nothing without flowers or catchy little farm sayings. I wanted plain dishtowels. Same deal. I think her line of products is overpriced, very inflexible, and frankly, a difficult sale in a discount market.

I know that of the several attempts to buy things at K-mart, I've been unsuccessful probably 7 times out of 10 in the last year. Too bad, because they did carry some things you couldn't find anywhere else for decent prices.

robyn

Eternia
01-25-02, 01:34 PM
Originally posted by J-Dubya
My local Kmart is getting low on dvd/vhs inventory.

My local "regular" K-Marts never had that many VHS/DVDs. The Super K still has a lot of DVDs and VHSs. Probably more than the Wal-Mart, but not as much as the Super Wal-Mart.

beebs
01-25-02, 03:29 PM
Kmart, which I like, has really lost it.

But, naysayers have been spelling doom for Kmart since the rise of Wholesale clubs (mid-80s), the 50-state expansion of Walmart (mid-90s), and the coming of discounters w/fashion sense like Target (late 90's). Everyone else in this marketplace seems to be doing good, while Kmart languishes and loses money.

I'd hate to see them go as between them and Target I get great deals on all the odds and ends of living (paper towels, laundry detergent, soap, shampoo, toothpaste, tp, tissues, socks, t-shirts, etc.) It seems like one or the other has what I need on sale in any given week...

I knew it was too good to last.

-Beebs

P.S. Not all Walmarts are open 24 hours. Some Kmarts are. Depends on where you live and what the overhead is... and I wouldn't bank any money on Walmart having serious trouble anytime soon.

milo bloom
01-25-02, 11:27 PM
There's a Super K near us that always has great prices on groceries, we go there more than regular grocery stores. We were just there Thursday though and a lot of the grocery shelves were bare. There was some woman giving a stocker grief because they didn't have her special brand of coffee creamer. I kept thinking, "doesn't she watch TV?" I wanted to pull a Tyler Durden on her, but instead I chatted w/ the stocker for a few.

The rest of the store can go jump in a lake though, the electronics is a joke, and I don't buy clothes there, but I'll be sad to see the groceries go.

zx83
01-28-02, 11:13 AM
Just watched Fox news on Friday and they stated that prices in K-Mart for the most part will remain the same.:mad:, i was hoping for DVD's to go for @ least 50% off.

anyways let's see what happens.


Content Relevant URLs by vBSEO 3.2.0