Sears and Kmart face bleak futures

The latest Wholesale Direct Metals review of the markets shows some interesting data. Sears Holdings is in big trouble — stores are closing and billions of dollars in losses are piling up. So naturally the company has slashed its advertising budget for both its Sears and Kmart stores. But that will make it even harder to attract a dwindling customer base. Sears spent just $67 million on all of its advertising in in the first half of this year, according to figures from Kantar Media — on television and digital ads as well as print, radio and direct mail. That’s down 29% from the same period in 2016. Kmart cut in its ad budget by 41%, to $21 million in the same period. Wholesale Direct Metals will examine the latest data to determine upcoming changes in market activity.