zx83

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

Adboy151

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

none yet in my area but I alos heard the whole chain was probably going Ch 11 protection soon.

John-In-VA

Maybe they will have The Mummy Ultimate Edition for $9.94

milo bloom

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

good luck...K-Mart shipped all the dvd's off as soon as they started their going out of business sale here.

SirPablo

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

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

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

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

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

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

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

K-Mart stock is down to $1.44, it had been in the $12 range as of August.

icondude

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

They may all close if they're not careful...

or just declare bankruptcy and keep going...

Eternia

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

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

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

jiggawhat

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

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

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

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

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

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.

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

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.