Sears, which has been losing money and closing department stores as of late, has posted an ad for Black Friday doorbuster deals.
Sears, the multinational department store chain based in Hoffman Estates, Illinois, also owns Kmart, which has likewise been losing money. During the three months before November 2, Sears saw losses of $534 million, or $5.03 per share. A year earlier, the company lost $498 million, or $4.70 per share, in the same time frame.
While Sears urges consumers to create a profile to log in to see upcoming Black Friday deals on their website, a few members-only doorbusters are online. Sears notes that members can “beat the crowd,” and many of the online Black Friday deals include free shipping.
Notable electronics deals include:
– a Mach Speed X-Treme 7″ Tablet w/ Android 4.0 for $39.99
– a Dell Inspiron 15 Laptop PC 1.6GHz Processor 15.6″ Display for $299.99
– an RCA 42″ Class 1080p 60Hz LED HDTV for $299.99
– a Vivitar DVR 508HD Digital Video Recorder for $24.99
– an LG Optimus Dynamic™ L38C CDMA Pre-Paid Mobile Phone for $39.99
Hedge fund billionaire Eddie Lampert, chairman and CEO of Sears, has shifted the focus of the company toward building upon its ‘Shop Your Way’ program, which caters to loyal customers. Under-performing stores are being shut down, including the location at the Fayette Mall in Lexington, Kentucky. At present, the ‘Shop Your Way’ members-only program accounts for 70% of Sears sales, up from 65% last year.
“The focus is less on selling products and just running stores,” Lampert said. “But serving members first.” During the last quarter, revenue fell 7% to $8.27 billion, mostly due to fewer Sears and Kmart stores in operation. Still, revenue at the stores still open, which indicates a retailer’s health, fell 3.1%.
In related news, below is a clip of enthusiastic consumers, hoping to achieve Black Friday shopping success:
Of course, all of the biggest retailers offer big Black Friday deals, though one should be careful while traversing the ravenous crowds that have been known to swarm doorbusting retail fixtures.
Image via Wikimedia Commons.