×

Sears: Raising Prices Only To Mark Them Down?

Sears
AP
Sears

Do you ever wonder if those advertised sales are really offering discounts? Here's the latest rant from Rich Fisherman, Senior Producer for CNBC's "The Call", and it's a doozy:

It's been a tough year for retailers with the economy in a recession. But it's been especially tough for Sears, which has seen its stock price fall about 65% this year on weak sales as its merger with Kmart has failed to impress investors.

As a result its third quarter results came in weaker than expected and it warned the immediate future wasn't much brighter. It’s also closing more stores. Well now it has more problems, mainly me.

Here's my rant:

My wife and I are looking for a new refrigerator. Two weeks ago she saw a Kenmore she liked for $1,200. But she still wanted to shop around so we held off buying.

Last weekend my wife saw a Sears’ ad that said. "All appliances 15 percent off”! So she goes back to Sears, finds the exact fridge, and lo and behold the price was $1,500. Plus, of course, the 15 percent discount!

Are you following me here? SEARS RAISED THE PRICE OF THE SAME EXACT REFRIGERATOR BY 25 PERCENT ONLY TO MARK IT DOWN BY 15 PERCENT!

Are you kidding me?

When my wife pointed it out to the salesperson she denied the original price. So she pulled out Sears’ stationery with the first salesperson's writing that not only showed the price and model number but a diagram of the fridge's dimensions! (See attached image, "blk" means "black" the model I wanted.)

sears_fridgedrawing.jpg
CNBC.com

We haven't found the original salesperson but the second one could only reply 'oh.'

Now I hate to pick on Sears but I'm wondering if this is an aberration or if every retailer does it. If so, buyer beware! In the meantime, I think I'll take my business elsewhere, thank you.

Questions? Comments? Funny Stories? Email funnybusiness@cnbc.com