The Decline of Sears...What Happened?
The Decline Of Sears What Happened Company Man

Follow by Email
Facebook
Twitter
Instagram
As of this week, Sears has filed for bankruptcy. They'll continue existing but that existence is getting smaller and smaller and it's questionable how long they'll last. This video takes a look the company over the years and how they found themselves in this situation. Patreon: https://www.patreon.com/companyman Twitter: https://twitter.com/MikeCompany17 Website: https://companyman.squarespace.com Recent Video: IKEA: https://youtu.be/QgbtoL65X04 A big thanks to all of my Consultant level Patrons: Cody Davis, Stewart Tritapoe, Thomas McGill, Cory Scamihorn, Devin Rosenthal, Sirpoptart, Isaah Jeffries, Tim Schmit, Ryan Kelley, Jacob Flax, Mina corridor, Harrison Wright, M.A. Driggers, Jeffrey Russom, Gregory Estep, SuperWings AeroGlittetGel, Benjamin Thomas, Sondre Grimsmo Sinnes, Chris Lion-Transler, Kai-Uwe Markeli, Joe Pettit, Kunwoo Kim, Specter Koen, Weeboi, Mike Weaver, Jimmy1985, Alexander Snyder, Bradley J. Humble, Marshall Kurtz, Matt Kilgore Jr., Daniel Bernard, Garrick Kwan. Other Company Declines: Kmart: https://youtu.be/1__Qg1toSSs Blockbuster: https://youtu.be/5sMXR7rK40U RadioShack: https://youtu.be/JFivtOmXPPM Solo Cups: https://youtu.be/YjzGKc4mynU Toys "R" Us: https://youtu.be/4JYUo9WKkao hhgregg: https://youtu.be/g6j4aoHbWdw Pan Am: https://youtu.be/YInewzLzc78 ESPN: https://youtu.be/bt-4PbhpGYE Gibson: https://youtu.be/apQ9SO7uF60 iHeartMedia: https://youtu.be/BImjay9KfYc Bon-Ton: https://youtu.be/buWiH5_ru2Y Kodak: https://youtu.be/eVrmFgvEnAA General Electric: https://youtu.be/CqF3WUST-fk Woolworth: https://youtu.be/iSEw4wmjuh4 Dell: https://youtu.be/rgDjQLyFXTA ______________________________ Intro Made By - https://www.youtube.com/channel/UCqi0-4XRvQLBo8E5r8bvPsA

Comments

Jessy Negron : Im still working in Sears, tomorrow my shift starts at 9 and I’m here watching this video lmao

Lauren Kelso : I'm 23, but I have a sense of sadness with the fall of Sears. My grandpa worked as an appliance salesman there from the 60's until the mid-2000's or so when he retired. I always loved going to see him at work, dressed up in his suit and tie, back when he still had a full head of dark hair. If I was at his house before he went to work, he would let me pick his tie for the day (usually I picked the one with Mickey Mouse on it). Makes me sad that the era of being able to make a real career out of retail seems to have gone away. He took pride in his job, everyone at the store did. They were paid well, and they were able to retire comfortably. It seems to me that when taking care of your employees is no longer a priority, you lose good, hardworking people and end up hiring people who don't give a single shit. Because hey, it's just retail.

silenthunter6 : As a former Sears employee you're right we didnt care about the customers, the morale in the stores was so low everyone felt like the company didnt care about us so why should we care about them or their business, we were always understaffed with broken and outdated equipment I was only there cause I needed the money but I hated working there

VIDEOHEREBOB : As a young kid growing up in the early 60's you could not wait to get your hands on the yearly Christmas catalog. They were also the go to place for appliances and tools. Sad, but they just didn't keep up with the changing retail climate.

Cornie Dog : Company man!! Make a video about GAMESTOP!!!

edm : My first crush was a model from the Sears catalog, June 1993 edition

B. Thomas : I was a manager at Sears before and during the time Sears acquired K-Mart. Sears was loosing focus. They still had the strongest sales at the time in appliances and tools, but they were loosing ground everywhere else. They did a survey and asked us were we would like to see the company go. We all screamed the internet, AND to distance ourselves from Walmart by bringing in high end, quality brands. You see, Sears USE to be about high end brands, quality brands at a reasonable price, with a guarantee of satisfaction, or your money back and they'd ship it straight to your door. Exactly like Amazon right now. Walmart is about the price, but they did not offer the best, the top of the line but they did offer a guarantee. Both Amazon and Walmart adopted successful practices from Sears, not the other way around. Sears forgot that. They acquired K-mart in order to compete with Walmart, introduced shopping carts, stuffed the isles so full of product shoppers complained about not being able to move around, and got pissy about returns. I left before it got THAT bad because I knew Walmart would win that fight. Sears didn't have a chance. I'm just surprised at how long they held on.

delwoodbarker : It's simple. Lampert holds the hedge fund that profits when Sears fails. He's basically bleeding the company and drinking the blood.

Kieran Stark : R. I. P. Sears 1886-2018

The Flagged YouTuber II : Sears Bankruptcy - Bigger Than You Know

KutWrite : What I liked about Sears in the day (I'm 71 now) was what I like about Walmart now: 1. Convenient locations, in Sears' case, usually in malls where it could be part of a day's shopping loop. 2. Wide range of quality products. 3. Decent (though not low as Walmart) pricing. I especially went there for Craftsman tools; I have a whole toolbox + full of them. Last time, a couple of years ago, they replaced a worn screwdriver under their no-receipt lifetime guarantee. However they said it was the last time, as they dumped that policy. So for m,e Craftsman was no longer worth the premium price. Lambert just did the usual "raider" thing of using ruses to suck all the dough out of one or more companies, plus shuffle the deck chair subsidiaries for his own profit. I'd like to see his salary, perks & bonuses during his tenure there, plus on the ESL side. Carly Fiorina did the same thing at HP. I suspect enough people realized that to derail her run for Calif. senator. Meg Whitman did the same for eBay/PayPal. Luckily both got out or were ousted (with huge bonuses) so the co's were saved.

Quinn : Ah, the days where you could get a car for $395.

Ronald Schoolcraft : I am 53 years old. My dad worked for Sears for 46 years. Nearly everything we owned when I was a kid came from Sears. My dad's brother also worked for Sears for nearly 50 years. I currently own thousands of dollars worth of Craftsman tools. Sears was a huge deal. It makes me sick to see what's happened to it. There used to be a Sears store in my small hometown. In the 70s they closed it and many other small town stores to focus on shopping malls. They abandoned the rural customers that were a significant part of their original market. This, in my opinion, is the first in a long line of bad decisions that has led to bankruptcy. I agree with another poster that Sears blew it by not moving their catalog online in the early days of the internet. Amazon would not exist if they had. I told their clerks for years and any manager that I could corner that if they were losing me as a customer, they were on the way out of business. The combination of Sears and K-Mart was a mistake, too. K-Mart had a reputation for carrying cheap junk, while Sears had a reputation for quality. They didn't go together.

jstrawser : When they  scrapped their  catalog  and failed  to  get into the on line  sales  business    that  marked the end of sears

dangerouslytalented : Had they put the catalog online the moment the internet happened, they would have not only survived, but they would have become Amazon.A no brainer that their no brain management failed to brain.

Desmond Lyons : The concept of a brick and mortar store that sells mid level consumer goods is completely outdated in an economic reality that's dominated by an ownership super rich class and a permanent subsistence underclass. One group exclusively uses luxury brand stores in large cities and small boutiques in rich enclaves and the other either uses a combination of walmart, dollar stores, consignment shops and food banks. Both groups including the paltry remnants of the middle class use online giants, amazon Zappos's, eBay etc. but the rich use them for convenience, everyone else uses online shopping to make up for declining real wages. The reality now is the choice between luxury goods and straight walmart crap. No middle class = no mid level consumer goods

alexguskov25 : Looks like the guy orchestrated for it to fall and still line his pockets , since Sears owes himself all that money it's a long con. I have fond memories because every Saturday my brother and I would go to Sears to watch Saturday Morning Cartoons. We were poor and otherwise couldn't afford a Tv back than and from 8 to 11 we watched all those cartoons on the staging floor. Until we could finally buy our own TV. Good Times.😁

Blablabla Blabittybla : They started making craftsman branded products in China. The end.

Wonder Waffle : Well here’s a long mess of a story Been around since 93 and though I never really shopped there, my dad did, and I always would along with him there. From my understanding he would get most of his appliances there, especially Craftsman. Usually it would be his go to spot before heading to Lowe’s. I’d still recall heading there early in the morning whenever we would go into town to get stuff for whatever big projects for the house he was getting ready for. Around my time after high school though I wouldn’t really go to look around, usually I would just burn right through the store and go straight into the mall. Nothing really caught my attention. Sometime around college I got my job at the Carmike theater(now owned and run by AMC) and really throughout the 3 years I been there I would never really consider going into Sears. The few times that I did it would usually be due to getting a shirt to wear for special movie events at work, like Star Wars, and then the one time I forgot my work belt. From those few times though I would notice how stale and bland the store would be, along with it feeling emptier and emptier. Not only that but I remember how stupidly priced the stuff would be, heck I think I spent about 30$ buying a belt due to being in a rush to clock in. Not even a fancy brand, just some generic belt you could probably find WAY cheaper somewhere else. That Sears is now long gone, the building is there but it’s gutted out and empty. And though I wasn’t a loyal and big customer like my dad, I kinda DO miss it. Like, I remember as I got older it would feel nostalgic in there, reminding me of days me and my dad would go in there just to look around, even if we didn’t have anything in mind we would still look around and see what deals and new things they would get. We also made friends with one of the workers there that was there for well...I wanna say since as long as I could remember. He was probably the most friendliest worker there, always greeting us with open arms and always giving us a “god bless you I’ll see you around!” Whenever we would leave. Always addressing us by our name too. Sure his job was to be a salesmen but he was good at keeping a conversation and wouldn’t try to go for a upsale or squeezing in a sale to us whenever we would just talk. He treated us and pretty much anybody who would walk in like a friend. Last I saw him was coming across him late at the gas station after a late night movie premiere. This was probably around the summer, and it was months after his sears closed. Really felt for the guy, I could tell it’s been rough just by how he looked. Heck he even had the same coat he would always wear at Sears on minus the tie, we talked for a little and he was telling me how he just left church and was heading home with his family but he pretty much told me that even with such a sudden retirement he still wanted to work and as he put it, “Sears is all I known. There’s really not another job I want or a job that wants a salesmen like me. I miss it, but I’m sure I’ll find something.” Sure folks will find this silly but that really hit me hard. Like you said, a bunch of people got affected by the decline, and man did I witness that in person. Crazy, especially how much it could hit somebody that worked there for years and was pretty much well known in the community.

Marc Black : Money laundering sounds like the reason to me.

BestAnimeFanservice : My brother in law is a manager at Sears working for 30 years there. He says every store has a bloated management system; that they never updated since the 50's. Each store has; 2 general managers each making $110k a year 3 managers each making $80k a year 5-8 Supervisors each making $60k a year 4-6 coordinators each making $40k a year and all over watch 10-12 store employees each making $30k a year That's a about a million dollars to operate 1 sears store; that doesnt even factor other costs like electricity or rent. A normal Sears store only makes about $300k in sales a year.

K Note : A couple inputs on this: -It always looked to me like they failed to ride the internet wave and adapt like other successful retailers did -Their crown jewel tool brand, Craftsman, was once a high quality tool brand with lifetime warranties (to tool guys, these two features are important, ESPECIALLY if you're paying big money for tools). However, in its later years the quality went downhill and they stopped honoring their lifetime guarantees (if you're one of those guys who paid good money for tools and you lost your warranty for them, you'd be royally pissed)

Love of Mangos : That Sears guy died at age 50??? What a short life!

Bruce wayne : Now if we can get the middle school to teach by webinar we could save on our taxes so wish Eddie could help destroy the brick and mortar schools would that be so nice

Mike Shaffer : I was working for Sears when management moved into the cult compound they built for themselves in Hoffman Estates, IL. Once they moved in, they were in a whole city where ne'er was heard a discouraging word...so they basically locked themselves away from the truth. No negative feedback = no knowing what the problems are = no fixing them. The truth could only reach them as a barbarian at the gate, which arrived on 10/15 in its bankrupcy armor. Too late to man the walls now, but I guess its all good that no one hurt Eddies fweeimgs in all that time, though I left behind several thousand co-workers who probably wish someone had...

JackTheLion : The Aldous Snow reference doesn't make sense because the conclusion of that movie is how he is now popular again, making good music and is sober.

btchnotme : The first Sears retail store opened in my hometown of Evansville, Indiana in 1925. It closed in 1975. A 2nd location, which was also the first Sears location in a mall, opened in 1963 and closed in 2018.

Adam Story : I’m only 36, and my house was fully furnished by Sears. They used to be awesome. Two years ago, my under warranty fridge died. It took us 1 week to get a repair man whom didn’t have the parts. 2 weeks to get the parts. 2 hours for it to die again. Another week to get the repair guy to return. Then another two weeks for him to get the same said part. After that, they told us that we couldn’t get a replacement until 3 repairs and 90 days. This isn’t a TV, it’s a refrigerator, we need that to live in a US lifestyle. (I understand that seems snobby, but there isn’t a good way to adapt quickly to a life without refrigeration here)

Bobby Bobby : The last time I was in Sears, I left with one takeaway. "Everything is too expensive". I was given a $50 gift card from someone, and I sold it to a customer there for $40. I believe I got the better end of the deal.

Brian The Explorer : Lampert has an perfect exit plan once Sears goes under, just wait and see.

Nikki Velazquez : It seems like his only interest is lining his own pockets at the expense of Sears. Sounds familiar.

guyoflife : Eddie Lampert planned for sears to fail so he could make a lot of money. He's a vulture capitalist. Capitalism as usual.

badfeminist : Crazy, I had no idea Sears started the Discover Card...

Aaron Landry : It would seem that Eddie Lampert didn’t buy Sears to run Sears, but bought it to lower its value and sell off its assets to himself at a lower resulting price. To put it in terms of cars, he bought a car not to drive it, but to sell it for parts

Misharu : Worked at Sears a couple years ago... the declining business practices made working there hell, TBH. Glad I left.

Chewy Cooking : Sears: Files bankruptcy ESL: It's free real estate

Windows 7 and a half : Sears: Oh Wow I’m the biggest retailer! Eddie Lampert (sarcastically): Oh yeah that’s nice (one night when sears is asleep) *Eddie kidnaps Sears* Eddie Lampert: I’m gonna shove this bankruptcy right through your heart Sears: SOMEBODY HELP ME Kmart: I’ll save you Eddie Lampert: Oh we have another one Sears: It’s 2 against one what are you gonna do about it Eddie Lampert: Oh yeah, meet Amazon and Walmart Sears and Kmart in unison: NOT AMAZON AND WALMART!! Eddie Lampert: Okay LET’S KILL THEM BOTH!! Sears: at least it will be a quick and painless death Eddie Lampert: AND LET’S MAKE IT LONG AND PAINFUL Kmart: We don’t want to end up like him *Sears and Kmart look at a picture of Blockbuster’s grave in fear* Amazon: I’M GONNA SLICE YOU WITH THESE CLOSINGS Eddie Lampert: I’M GONNA SHOVE THIS BANKRUPTCY UP YOUR CHEST Walmart: I’M GONNA INJECT THOSE CLOSINGS IN YOU 2 days later News Reporter: Breaking news Sears has just got kidnapped and abducted by Eddie Lampert and Kmart was trying to help but he also got abducted. Hey you sir how do you feel about this event Company Man: *i DoNt ReAlLy CaRe AbOuT sEaRs* Crowd: *BOOOOOOOOOO*

Bruce wayne : Yes you are right Eddie Lambert is tearing down the company and my favorite saying is do to your breed of greed you're no longer need

Fernando Fernandez : You need to stop looking at these as people trying to run a successful business and instead look at it as people trying to make as much money as quickly as possible, by any means necessary. He also probably funneled any profits made at Sears to his hedge fund so he could use the capital gains tax loophole and avoided paying millions in taxes.

VideoNOLA : You've heard of Amazon Lockers over at Whole Foods? Guess where they got that idea. Sears! That's right, we used to order merchandise from the catalog, wait for a phone call when it arrived at the local Sears store, then go pick it up from a special counter. Was awesome!

Brice Howard : "Eddie a hustla'" - Black guy.

Kyra : You definitely need to cover the bankruptcy and case against the Claires store. Why did icing by Claires close and why is Claires in bankruptcy 💯

Mauro Castillo : I use to be an employee and was close with family friends at the corporate level who knew or had met Eddie. All of this was inevitable and only a matter of time. The guy was rarely at corporate (Chicago). He spent most of the year away at his home in Florida and only few in a couple times a year. The guy didn't give a crap.

Vincent Locollo : WERE WILL THE BRADY'S SHOP NOW!!!!!!!!!

Ms. K G : So sad, sears quality of products is way over Amazon and Walmart and any other retail.

The Daily Review : Craftsman's quality plummeted. Period. That alone killed Sears more than anything else.

Tony Caruso : you should do a video about samgoodys or FYE or about the self served yugort places that would be interesting

Pixelated Reality : The saddest part is that Sears had the infrastructure and supply chain needed to become what Amazon is today already in place decades ago. Essentially, Amazon is the 21st century version of the Sears catalog. If only someone at Sears corporate had the vision to see the internet for what it was back at the turn of the millennium.

Bradford McGlone : I'm very angry at Lampert. From what I read about him and things I heard along with reading too he just took advantage and robbed the store chains only to line his pockets and not really care about the stores floundering. Many people are losing their jobs on the account of this bum!! I'm stocking up on many things to a degree from Sears. But, really it's not just Sears, many retailers are hurting too especially J.C . Penny. I'm not a Kohl's shopper they raise their prices on their so called sales like J.C. Penny what a joke. In my opinion Sears have good sales prior to all this going on. So, I will continue to shop there until then. Another point I'm NOT a big fan of Amazon I do not like them. They are much of the blame too why many retailers are hurting. I want nothing to do with Amazon. I rather shop at flea markets, thrift stores than to deal with them. And yes, I like flea markets and thrift stores but, not Amazon. Target is okay not much about their clothes and shoes Walmart the same too. To me Sears has all that in many ways. So, I will enjoy shopping at Sears while I can. I do like Marshall's too. Some out there may not like my comment but, oh well.