Saturday, November 4, 2017

Ammon Kmart store slated to close

Ammon's Kmart store, which will be closing by January.
The Ammon Kmart store, 3101 E. 17th St., will be one of 45 closing this winter, according to an announcement from Sears Holdings, Kmart’s parent company.

The statement said a total of 63 Sears and Kmart stores will close by late January 2018. The Idaho Falls Sears, in the Grand Teton Mall, was not on the list.

"Sears Holdings continues its strategic assessment of the producitvity of our Kmart and Sears store base and will continue to right size our store footprint in number and size," the statement read. "We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.

The statement says that eligible employees working at these stores will receive severance and be given the opportunity to apply for open positions at nearby Kmart or Sears stores.

Liquidation sales will begin Nov. 9 at closing stores. This development is the latest in a long line of closings for Sears Holdings. The company announced in July it would be closing 43 stores; in August, another 28.

Here’s an observation, posted on Facebook by a loyal BizmojoIdaho reader, John R. Parsons:

"For years (honest), Clair and I have driven past the local, typically-deserted K-Mart and asked each other, "How does that store survive?" It's been at least a couple of years since we actually set foot in the store. Even two years ago, there was a real funeral home feeling to the place. It was kinda like going to visitation for the deceased and wondering where the casket was. Meanwhile, all the merchandise felt old and unwanted. It was kinda spooky, actually, so spooky that we decided not to go there any more.

Somehow, against all odds, it hung on for these past two years. Now the jig's up and all the deck chairs will be thrown off the ship between now and January. One wonders what's next for that cavernous building with one of the area's largest parking lots?

Alas, Poor Sears. Check out the Sears stock chart. Ten years ago on April 27, 2007, just before the housing bubble burst, Sears was flying high at $191.93 share. Today it's trading at $5.36 (not a typo).

It's kinda sad to see the slow-motion demise of what were once two of America's retail giants. We have very fond memories of the famous K-Mart "Blue Light Specials". Who else remembers those?

Speaking of distant memories, few of you probably remember that K-Mart was actually once S. S. Kresge. And, yes, I have fond memories of shopping in the Lafayette, Indiana S. S. Kresge back in the 1950's. Times....they are a changin'..."