What caused the decline of Sears?

The parent company of Sears and K-Mart said it will be closing between 100 and 120 out of their 4,000 stores as a result of slow sales. Business and economics correspondent Rebecca Jarvis spoke with Jeff Glor about what caused the decline and what happens next.

Category:

News & Politics

Tags:

• cbsepisode
• sears
• kmart
• stores
• close
• winners
• decline
• sales
• holiday

[emalinas]

@willfminkorea2010 first roebuck went now sears cutting down I suppose western auto will be next

[KhmerD0g]

duh, Americans are in huge debt.

[jbearden]

It's a sign that the middle class market is utterly disappearing. You are seeing the last vestiges of your middle class being destroyed.

[Twostones00]

To Sears and K mart.....When you treat your help like crap we can see it on their faces. You pay people shit wages to work under shit management you get shit back.

[fullmetalshinigami]

@jamesappleridge why 1947?

[AngelBaby977onRS]

I work at sears, I'm getting paid minimum wage to get yelled at by a bunch of old grumpy ladies, work my ass off to TRY to keep the fitting room and floor area clean, only to get bitched at by my manager and other employees. 4 People can NOT run the WHOLE ladies wear department when 3 are on til, and I can't run out all the clothes by myself! UGH! Rant over lol

[willminkorea2010]

Sears and K-Mart have been terrible. Walmart and Target have done a much better job.

[DarkBlackTears]

Because Kmart gives their workers minimum wage even though they want their employees to be the best they could be, at a shitty cost. They asked for too much, and need to keep within their metrics for the employees to get several credit cards a day, as well as numerous rewards and protection plans. If you don't keep up with quota, you're fired. What the hell?

I still buy from Kmart though, however, not as much because of my low paying job, which I'm much much happier at.

[MadDogMeh]

Because Sears is crap! We went there and there is almost nothing in the stores! I couldn't find anything I liked except for a pair of Levi's which were still $120! WTF?!

[jamesappleridge]

it seems before 1947 the goal was to make and sell a good product at a fair price, while paying their employees good and fair wages, then some guy in marketing decided we could be sold things we didn't want or need, but could be convinced with enough brainwashing, seeing this to be true, the guys in accounting said hey, profit is more important than product, we can squease a few more points of them every year, then we woke up 50 years later screwed blued and tattoo'd, thank you very much.