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Post by CMF Newsman on Dec 28, 2011 7:48:34 GMT -5
Company officials have no word on Chattanooga stores
(Chicago) -- Local Sears and Kmart employees are holding their breath, hoping to be among those spared from planned closings that were announced by parent company Sears Holdings on Tuesday.
The two major retail chains, which merged several years ago in a attempt to halt continued losses in both companies, has seen revenues continue to drop even during an otherwise fairly robust holiday season.
In all, company officials say they plan to shutter up to 120 stores, though they did not elaborate on which chain will bear the brunt of the closures, or which cities will specifically be affected. There are two Sears stores in Chattanooga, at Hamilton Place and Northgate Mall, and three Kmart stores in the region, one on Highway 58, another in Ft. Oglethorpe and a third in nearby Dalton, Ga.
Citing a "sharp drop" in sales over the holiday season as a reason for the closures, analysts also point to the company's inability to quickly renovate older stores and improve problematic customer service issues which have plagued the retailer. All told, company officials say they expect earnings to fall over 50 percent in the fourth quarter alone, much worse than had been projected.
Company officials did note they will make detailed plans known within the next month, and will attempt to relocate current employees with other locations, but acknowledge their will likely be further layoffs in the near future.
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Post by cadillacdude1975 on Dec 30, 2011 13:45:37 GMT -5
it makes me wonder if the economy is actually the cause, or has walmart gotten that much stronger?
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Post by Gary on Dec 30, 2011 14:23:46 GMT -5
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joedog
Senior Forumite
Posts: 2,830
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Post by joedog on Dec 31, 2011 9:09:06 GMT -5
Its not announced yet, But the folks at K-Mart on 58 are worried.
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Post by Gary on Dec 31, 2011 9:55:10 GMT -5
I still wish they hadn't closed the K-Mart in East Ridge next to the Rave.
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joedog
Senior Forumite
Posts: 2,830
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Post by joedog on Dec 31, 2011 14:55:13 GMT -5
I still wish they hadn't closed the K-Mart in East Ridge next to the Rave. or the Mtn Creek Rd store too |
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Post by Warkitty on Jan 1, 2012 11:04:08 GMT -5
There's a Kmart in Hixson too, so there's four.
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Post by Tsavodiner on Jan 1, 2012 19:14:00 GMT -5
I still wish they hadn't closed the K-Mart in East Ridge next to the Rave. Even more so as an East Ridger (assuming you still are), since the then-City manager, Bill Whitson, failed to take into account the loss of tax revenue resulting from the flood-induced closure, leading East Ridge to near-calamity financially and a tax-and-fee increase to cover the unexpected loss. Another "Big Win" for former Mayor Mike Steele, a shoo-in to join the likes of G.W. White and Charlie Gass in the East Ridge cocksack Hall-of-Fame. |
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Post by Gary on Jan 2, 2012 9:10:59 GMT -5
Yep, still live here and not seeing any reason to move anytime for the rest of my life. I like it here.  |
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Post by LimitedRecourse on Jan 2, 2012 10:09:01 GMT -5
"... not seeing any reason to move anytime..."
Other than all the businesses closing down or leaving...
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joedog
Senior Forumite
Posts: 2,830
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Post by joedog on Jan 2, 2012 10:18:41 GMT -5
Yep, still live here and not seeing any reason to move anytime for the rest of my life. I like it here. And Gary just invoked the media curse. I give him six months....... LOL |
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Post by Gary on Jan 2, 2012 14:54:07 GMT -5
East Ridge seems to be doing just fine. We're getting better city services (I especially like the new recycling system that is actually making the city money), taxes are still much lower than Chattanooga, and I'm not seeing the business climate you're alluding to. In fact, I know of several new businesses that have opened in E.R. recently, with more planned.
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Post by LimitedRecourse on Jan 3, 2012 11:05:20 GMT -5
The businesses at the end of Ringgold Road (by the interstate) are not doing very well. A few in the antiques mall behind Cracker Barrel have closed, and several others in the area are shut down as well. That is about the only area of East Ridge I venture into EXCEPT the Ace Hardaware & Linda's Produce by the tunnel.
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Post by Gary on Jan 3, 2012 12:26:51 GMT -5
I ride my bike the length of Ringgold Road nearly every day and have a rather unique view of the main shopping/business district of the city. And while I have noticed some drop-off near the I-75 exit, I've also noticed some new businesses cropping up there as well as further down Ringgold Road towards the middle section.
There are still plenty of empty lots of such that are waiting to be developed, but overall, I think East Ridge is on the upswing from where it was just a few years ago.
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Post by Warkitty on Jan 3, 2012 12:47:39 GMT -5
Amazing how riding a bike around gives some different perspective....
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Post by Gary on Jan 3, 2012 14:11:08 GMT -5
Though on days like today, my warm-weather-reared ass is staying inside an using my recumbent bike instead.
It's farking COLD outside!
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Tookie
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Posts: 2,747
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Post by Tookie on Jan 4, 2012 1:18:12 GMT -5
Attributing closures to a sharp drop in sales over the holiday season is absurd. Sears has been declining over several years. Their prices are not competitive with other retailers and their customer service is nonexistent. Plus they added a Kardashian clothing line to further alienate customers.
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Tookie
Senior Forumite
Posts: 2,747
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Post by Tookie on Jan 4, 2012 1:32:54 GMT -5
I still wish they hadn't closed the K-Mart in East Ridge next to the Rave. Wasn't there a Kroger's there too? I miss those grocery stores in the Chattanooga area. |
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Post by Justin Thyme on Jan 4, 2012 7:26:47 GMT -5
Kroger is not the same now as it was when they were in the Chattanooga market. Their meat department is full of prepackaged meat and has no meat grinder. Their butchers aren't butchers, just stockers. Their selection of produce is pretty good but I find a lot more imported produce than I find US produce and very little local produce. Without their loyalty card you will find the prices much higher than Publix and with their loyalty card prices aren't much lower than you will pay at Publix. The Kroger deli and bakery are pretty good but not much different from Publix. Publix has a real butcher shop and, while the produce selection isn't as large, you will find mostly US and even local produce.
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