/ News / Shopping / Marine ParkDepartment store departing Kings Plaza, makeover to follow Iconic American department store Sears is shutting its doors after 20 years in Marine Park’s Kings Plaza mall, and high-end European clothing stores Primark and Zara — Brooklyn’s first — will replace it, mall owners announced on June 16. The tony couture-purveyors will help transform the mall into a more fashion-forward spot, said an executive from Macerich, the company that owns Kings Plaza. “We are very pleased that both Primark and Zara share our vision of making Kings Plaza a ‘must-have’ retail location,” said Randy Brant. “We have been pursuing this significant redevelopment opportunity since we purchased the property, and we look forward to creating even more value at Kings Plaza.” Macerich will redevelop the Flatbush Avenue-facing Sears building in early 2017, and mall moguls will gussy-up the building’s entrance, replacing the window-less facade with a four-story glass front, said a spokeswoman for Macerich.
They’re also building two new escalators and elevators but will not comment on the price tag, she said. Sears decided to close up shop by mid-September to help cut costs for the Chicago-based company, which came to Kings Plaza in 1997, said a spokesman for the company. “Store closures are part of a series of actions we’re taking to reduce on-going expenses,” said Chris Brathwaite. Sears will host a pre-closing liquidation sale starting June 30, he said. The store opened to great fanfare in 1997, and the company’s former chief — a Park Slope native — predicted two decades ago that the store would have staying power in Brooklyn. “New York City is one of our most important markets, and right now we feel it is vastly underserved. At Kings Plaza, we have an ideal environment, and we feel we will be there for the long run,” said then-chief executive Arthur Martinez. The borough’s other Sears location — on Beverly Road in Flatbush — and its iconic building are safe for now, Brathwaite said.
“The store is open and serving our members,” he said. Follow her on Twitter @julcuba. Hot off a minor PR flub in which it left a man hanging with a faulty dishwasher for 14 months, Sears announced this week it is entering the highly profitable rent-to-own business. The service is ideal for consumers who can’t get the financing for a new appliance, but would still like to own one… eventually. Whether an appliance or a mattress, a rent-to-own product must cost at least $280 to qualify for Sears' program, which is a collaboration with existing rental service WhyNotLeaseIt. "Over the last three to four years, it has become difficult for our customers to have access to credit and to get new credit," Jai Holtz, vice president of financial services at Sears Holding, told the Associated Press. "The program gives a much-needed financial solution to those unable to purchase on credit, secure credit, or because of immediate need, can't use layaway." It also taps into a highly profitable marketplace, which is probably the main reason Sears is interested in such a program.
According to Consumer Reports, some rent-to-own deals end up costing the buyer up to three times the original retail value of a given product—hardly the “financial solution” Holtz is alluding to. While staggered no-interest payments on a new fridge may seem enticing at first, consumers should be wary of the inherent dangers, most of which rely on consumer ignorance. Here’s an example from CR: “We recently examined offers at several rent-to-own merchants and found that you easily end up paying two to three times the amount it would cost to buy an item outright from a traditional retailer, with equivalent interest rates of as much as 311 percent.” That means that you’re better off financing a new appliance on a high-interest, predatory credit card than working through a rent-to-own program. While we certainly hope Sears will not stoop to swindling bloated revenue out of its lease-to-own shoppers—many of whom are low-income consumers—it’s not hard to see past their consumerist guise to the profit-minded interests underneath.
The most important thing is for consumers to be informed about their financing options before jumping head-first into a purchase. Our editors review and recommend products to help you buy the stuff you need. If you make a purchase by clicking one of our links, we may earn a small share of the revenue. Our picks and opinions are independent from any business incentives. Be in the know! news and reviews straight to your inbox. Thanks for signing up! Be the first to know about News, Reviews & Deals Yes I want to be in the know! No, I don't need to know Thank you for signing up! Look for the latest news & reviews in your inbox soon. Sears Holdings Media Relations Hoffman Estates, IL 60179 Directions from O'Hare International Airport Take I-90 Tollway west toward Rockford. Continue approximately 20 miles and exit at Beverly Road and proceed North (right). Turn right into Sears Holdings campus on Sears Parkway. You will see the Sears Holdings sign marking the entrance.
Go straight at the stop sign, pass under the main entrance and park in the visitor lot ahead. Directions from Midway Airport Take Cicero Avenue north. Turn right onto the ramp for I-55 N, Stevenson Expressway to Chicago. Take the Ryan Expy/I-90 W/I-94 W exit 292A to Wisconsin, keep following signs. Be sure to stay on I-90 W as it splits near Montrose and continue 20 miles past O'Hare Airport. Pass Route 59 and exit at Beverly Road. Proceed North (right) for less than a mile, turn right into Sears Holdings campus on Sears Parkway. If you are thinking about getting a new bed soon, Labor Day mattress sales present an excellent time to save. Nearly all major brands and retailers participate in Labor Day weekend specials and events, and many offer their best deals of the year, rivaled only by Black Friday.Getting a new mattress can be exciting, but did you know that a recent study showed using a new bedding system increases sleep quality and reduces back pain? You’ll be surprised to see what you’ve been missing.
A new mattress is an investment in your health and if you can get a discount, all the better. Let’s get to the deals then, eh?This year, the Labor Day mattress sales with the best combination of value, quality, good reviews and fair guarantees come from the brands above.In this guide, we’ll look at the when, where and how of holiday deals and give you insider insight into how to score the best mattress. Your chances are pretty good, though, because this is such a great time to purchase a new bed. It does help to be prepared, so take some time and go over the information in this guide to improve your chances of success.This holiday became natioanlly recognized in the 1880s, and was designed to honor the labor and achievements of workers following a period of national strikes and unrest. It is a Federal holiday, and many people are given the day off to celebrate.Businesses know people are off work and have spare time to shop during the extended weekend. So, this holiday has become a popular weekend for sales ending summer and kicking off autumn.
In addition to mattresses, everything from clothes to appliances to cars and more are hot ticket items. Retailers really seize the opportunity and typically have extremely reduced prices and other impressive offers for this season.The actual holiday takes place on the first Monday of September. In 2017, Labor Day falls on September 7th. However, mattress sales for the holiday pop up in many stores several days earlier than the actual holiday. Usually, you see them by the preceding weekend or week.So, retailers usually begin releasing their mattress promotions in the week before. But, it is wise to start researching mattresses well before that Monday. You want a good idea of what you’re looking for. Getting familiar with the marketplace and researching mattress types/brands before you go to buy will help you make wiser choices rather than impulse splurges.Don’t know what bed is best? Read our guide to the best memory foam mattressesPerhaps the easiest way to research and locate the best mattress deals is to browse online, as many brands will issue press releases or post details on their websites close to the sale date.
Working from the couch is about all the strenuous activity you need for the big holiday weekend. that list sales if you still aren’t sure. A good search phrase to put into your engine is “Labor Day mattress sales” or “Labor Day mattress deals” or something similar. You can also check deal websites and blogs that compare deals, such as this site.Newspapers are a good source for local ads, and if you have a specific brand in mind, you might be to sign up for their email newsletter or follow social media feeds to get sale notifications.Once you’ve located deals and offers, it’s time to compare and research the actual value. Some retailers may exaggerate deals or use other high-pressure tactics to get sales, and not every sale you see may be a great value. Find more helpful tips in our guide to less stressful mattress shopping.Consumer Reports says that although mattress deals may proclaim big discounts like 50% or 75% off, that this is largely markup and that the discounts off regular retail prices are often not as steep.
Known as “price anchoring,” this dishonest practice is an attempt to anchor a higher value in the customer’s mind by setting an unrealistically high price.For example, their ShopSmart division said in a September 2014 press release that a Serta Vantage mattress that sells at many places for $1074 (the minimum price set by Serta) was listed at one popular mattress website with a regular price of $2148 just to give the impression of 50% savings.When you see big discounts and percentage slashes, don’t take it at face value and get blinded by the prospect of a deal – see what similar beds are selling for elsewhere to get a better idea of the value.Do expensive mattresses really matter? Before the holiday weekend, spend a little time learning about different mattress types and materials so you know what you’re looking at and comparing. Determine which mattress size you’ll need (measure if you aren’t sure) and then which type or types you are interested in.Overall, innerspring beds are most popular, but other mattress types all rate considerably better in reviews.
Each mattress type has pros and cons to consider, and your sleep position and other preferences will also play a role. The internet is a very helpful source for mattress information, reviews and comparisons. Use everything at your disposal.You may find it easiest to pick out a couple of beds that look reliable and fit your needs in the weeks prior to Labor Day, and then compare deals from different stores once the sales and ads come out. That way you won’t have to cram all your shopping into one weekend or day.Promotional beds usually stand out in big letters. During major sales, prices range between $200 and $500. But, lower quality proves common and they may wear out much quicker than beds that cost just a little more. Stores also may only have a limited stock of these offers, designed primarily just to get people in the door. Consumer Reports suggests that these types of beds are probably not ideal for daily-use beds, but you may get away with using them in a guest room or for a temporary situation.
You’ll want to locate or inquire about specification information for each mattress, such as layer compositions, foam density, coil count, etc. to understand the quality, then compare prices with other competitors to determine value. There is a lot to remember, so you may want to write some things down. Our past guide to memory foam mattresses, adjustable bed comparisons, and our article on discount versus luxury bed brands are good places to start if you aren’t sure what to look for.Don’t forget to look in to warranties and return policies as well. Many mid-level and higher beds come with at least 10 years of full coverage protection. The majority of brands of spring beds cover sagging of 1.5″ or more, while good memory foam and latex warranties will cover sagging of 0.75″ or more.Satisfaction guarantees or return windows are also important, as even showroom tests don’t tell you how a mattress will feel during a full night’s sleep. You should have at least 30 days to return or at the very least exchange in case it doesn’t work out for you.
We recommend also researching reviews for the company and mattress models, too, as other customers can provide helpful information about quality, service and comfort that you may not see when researching or testing beds. Often, you can find consistency in the types of things consumers are reporting, both good and bad, which can give you particularly useful insight.As soon as stores begin release their ads and deals for 2017, we’ll feature them here so bookmark this page! A preview of what you’ll find includes Macy’s and Sears Labor Day mattress sales, other major national retailers, and top online brands like Tempurpedic and Serta.If past sales are any indication, you’ll likely see a range of good deals under $1000 for all kinds of beds. Plenty of discounts or package/finance deals on more expensive brands also seem popular. There should be something for any budget this year, as in years previous.Through September 5 (some may continue later).Online and in select stores. and in some stores.