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uh oh kmart not doing so good

patrick

By patrick
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Elwood Senior Enthusiast

Elwood

Posted
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This is yet another example of how Wal-Mart and Target are driving all other businesses out, and gaining a monopoly on everything.  We've lost two grocery stores (Kroger and Foodland), and can't get any other department/discount storesin my hometown since Wal_Mart changed to a super Wal-mart.  And it's even killing the business in the Kmart in a town 20 mninutes south of us.  They come in with low prices and kill all the other business, then they jack the prices back up and lower their selection when they have no competition left.  It sucks.  :)

patrick Enthusiast

patrick

Posted
  • Author
Posted

Kroger is the largest grocery store chain in the world... that isnt a case of a large fish driving a small fish out..

kroger has driven many a small grocery out of business

 

Kmart secured 2 billion in financing while they re structure during the next year.. don't think that you really have to worry about them going the way of Montgomery Ward's (remember Sears filing for bankruptcy about 12-13 yrs ago?)

 

http://www.kmartcorp.com/corp/story/pressr...ws/pr020122.stm

chevy4x4trucks Senior Enthusiast

chevy4x4trucks

Posted
Posted

I don't think I've ever seen a Kroger grocery store in my life.  Around Milwaukee I've only seen Pick and Save, Sentry, & Jewel-Osco.  

 

No super wal-marts or whatever there called yet.  I did see one when I was in michigan.  That place was huge.  But, being the non-avid shopper I am I didn't care for it.  When I have to go shopping I just run in and out (except for the auto store)

Elwood Senior Enthusiast

Elwood

Posted
Posted
Kroger is the largest grocery store chain in the world... that isnt a case of a large fish driving a small fish out..

kroger has driven many a small grocery out of business

 

Kmart secured 2 billion in financing while they re structure during the next year.. don't think that you really have to worry about them going the way of Montgomery Ward's (remember Sears filing for bankruptcy about 12-13 yrs ago?)

 

http://www.kmartcorp.com/corp/story/pressr...ws/pr020122.stm

I know Kroger won't go completely under, but in small towns such as mine they can't survive with Wal-mart around.  We had three grocery store before Wal-mart.  Now we're down to one and it is starting to lose money and may be gone soon.

 

Once they come into these small towns and drive out all the other business, they raise the prices and we have no other choice but to pay the prices, because we don't save buy using gas to drive to the next town and there is no where else in town to go.

 

In our town the building Wal-mart moved from when they built the Super Wal-mart can't even get any competition in there for Wal-mart.  When Wal-mart moved they refused to give up their lease, they are paying rent on an empty building for the sole reason to keep competition out.  I know this is just business, but this combined with the other things they do doesn't make them as good for the community as they claim to be, IMO.

HillHound Senior Enthusiast

HillHound

Posted
Posted

Personally, I don't shop at Walmart due to the predatory pricing habits they seem to have perfected-move in, undercut the competetion and run 'em out of town, then raise prices through the roof and take advantage of the working class folks who'm walmart claims to care so much for.

 

The government tried to sue Microsoft into submission for monopolistic behavior  (I disagreed) so why does noone seem to care that Wallyworld is showing the same tendencies??

 

Oh well...I hope Kmart comes out ok.  Lots of folks work for them, and they're a good outfit to make a career with if you like retail and management.  

 

Go buy some Kmart stock-it closed at .69 cents/share today.  My opinion you can't go wrong...it's going to come back up at least a little.

pacodiablo Senior Enthusiast

pacodiablo

Posted
Posted

good thing about being in a large city is that everyone can play.  k-mart, wal-mart, and the numerous grocery stores and stuff can all survive and make $$$

NewbieZ71 Senior Enthusiast

NewbieZ71

Posted
Posted

Kmart is bankrupt because they have always chosen to be cheap...Walmart is inexpensive.....there is a difference (IMO). Right now I'm not a Kmart fan.....they are stiffing me for about $10,000.....I will never see it and will have to write the whole amount off...the odd part about bankruptcies is that after they declare, there is no one safer to do business with....payment is guaranteed through the courts...

 

Please understand, I am upset with "KMart" not its individual employees!  I hope that anyone out there working for them is ok and keeps their employment if they want!

Shaners Senior Enthusiast

Shaners

Posted
Posted

I actually believe Kmart will survive, and right now thier stock is at $0.69/share.  If I see it a $0.50 I'm buying it!!!

firecadet613 Enthusiast

firecadet613

Posted
Posted

I personally don't like K-Mart.  They have a giant Super K-Mart here and I hate it.  They have about 30 checkout aisles, but I've never seen more than 3 open at once, even at 5-6pm on a weeknight when everyone is in there.  They opened up these self checkout lanes, can't really figure out how to work those dang things.  And they don't have an quality items, its to cheap.

NewbieZ71 Senior Enthusiast

NewbieZ71

Posted
Posted
I actually believe Kmart will survive, and right now thier stock is at $0.69/share.  If I see it a $0.50 I'm buying it!!!

Any thinking/advice behind the $.50 shaners? Or is that just your "I cant resist" price?  I agree though...someone will do something with the company and it is bound to go up and at that price it wont take much to make some reasonable $$$.

Elwood Senior Enthusiast

Elwood

Posted
Posted
IThey have about 30 checkout aisles, but I've never seen more than 3 open at once, even at 5-6pm on a weeknight when everyone is in there.

Super Wal-Mart does the exact same thing.

DigUout Senior Enthusiast

DigUout

Posted
Posted

I've been following the K-Mart saga closely the last few months in all of the business journals and trade mags.  If anyone is betting on K-Mart being around in 3-5 years, you'll likely lose.  Too many changes in the CEO position and executive commitee, budget cuts in advertising, shareholders bailing out, stock prices plummeting and a debt of over $78 million to food vendors who will no longer make deliveries to the stores.

  I wouldn't hold my breath, waiting for them to rebound.  And despite who their competition is, the blame has to fall directly on the people running it who didn't do what was necessary to stay competitive and viable in the marketplace -

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