I had been hearing about trouble at Sears, but not the Kmart part of Sears Holdings. There's a hefty amount of stores closing, about 100-120. I'm sure the lousy economy is an obvious part of it – as is the move to online (and man, judging by the scene out here during shopping time, online is a good bet).
They're also not alone – Wal-Mart is hurting. They just have presence, gobs of cash, and stranglehold on their side.
So why is this here, in our Sanctum Geektorum? Because this is big news:
- Those quick retail jobs people rely on for cash are going to be affected by lack of opportunity.
- If there is more of a move online that may change opportunities – and bring some for you. As I've noted many times I still think Wal-Mart is going to try and build an online presence.
- Amazon is more likely to be further in the crosshairs after this because, well, e-commerce and such. This is going to further negative attention on Amazon – though it may result in a can't-beat-em-join-em approach.
- These closings could affect communities severely depending on where they are. It may affecy yours.
- It's a reminder many brands are not "sacred" in this economy. Your name will not necessarily save you today.