Stability Amid Turmoil
Odd thing about the lead story in Sunday's paper, which asserted that the local Sears & Bergner's "are definitely — as far as we understand — not on any list of doing poorly or losing money. They’re
making money.” This despite the bleak news for their national owners.
The odd thing was that all the people quoted in the story were employed by the Quincy Mall or its parent corporation. No comments from the managers of the Sears or Bergner's stores, or from anybody else associated with Sears or Bergner's, for that matter.
making money.” This despite the bleak news for their national owners.
The odd thing was that all the people quoted in the story were employed by the Quincy Mall or its parent corporation. No comments from the managers of the Sears or Bergner's stores, or from anybody else associated with Sears or Bergner's, for that matter.
posted by Allthenewsthatfits at 3:08 PM
3 Comments:
It matters not what an individual store does. If the parent company is in trouble, and both Sears Holding and Bon-Ton (Bergner's) are, all stores owned by the parent company will be swept into the bankruptcy. Bon-Ton shares sell for less than $1 and according to the Wall Street Journal there is concern that vendors no longer will ship merchandise to Bon-Ton stores. Would have been nice if the H-W had covered this aspect of the situation.
Ah, but you are forgetting...this is Quincy. "Life is Good." Drink the Kool-Aid and hush.
To quote Mr. Husar:
"Several news reports last week painted worrisome pictures for the parent corporations of two of the mall's key anchor stores -- Sears and Bergner's.
Reuters News Service reported that Sears Holdings Corp. had a bigger-than-expected third-quarter loss as sales fell in its U.S. Sears and Kmart divisions. The company announced plans to close eight stores, and MSNBC reported more may be closed if Sears has a weak holiday season.
The stock price of Bon-Ton Stores Inc., parent of Bergner's, recently fell below the $1 mark after the retailer reported a third-quarter net loss of $14.3 million. Sales in the quarter were down 7.2 percent."
What more else do you want?
Post a Comment
<< Home