Attention Kmart shoppers, we have a blue light special on a chain of discount department stores. In today’s Spurr Wall Street Watch we turn our eyes to some disturbing news. Check out what the Associated Press is saying about my other favorite retailer:

Retailer Sears Holdings Corp. posted its second quarterly loss since Kmart acquired Sears stores in 2005, saying Thursday that it lost $56 million in the first quarter and fell far short of Wall Street forecasts. The retailer led by financier Edward Lampert said its performance equated to a loss of 43 cents per share — a dramatic decrease from a year-ago profit of $223 million, or $1.45 per share.

Howard Davidowitz, chairman of retail consulting firm Davidowitz & Associates, said he thinks Lampert will need to dramatically realign business units — and even consider shutting down the discount Kmart brand — if the retailer has any hope of remaining viable to the American consumer.

“It’s going to get a lot worse,” he said. “Given these results, I think Lampert really has to now face up to major, major store closings.”

If you know me, you know I love my Walmart. But I also like to hit up Kmart on the side once in a while. Walmart is like my wife and Kmart my FWB. I should be happy with just Walmart, after all it gives its heart to me and is always there for me 24 hours a day, 7 days a week. But there’s just something unique about Kmart that I just can’t say no to either. No one really knows I shop there either. Not even my best friends. Sure, I know I should just pick one store but c’mon, I’m a guy. I like to shop. Can’t blame me for that.

But now comes this news. What if my Kmart went away? I’ll bet I could shop at a bunch of new stores. Ain’t nothing like a walking into a new store for the first time. I’ll bet if Kmart was gone I could shop at a different store every weekend. But even that gets old eventually. Prolly just easier to stick with Walmary anyways. I’ll miss you Kmart. Thanks for the memories.
Now that I think about it, I should probable stop shopping altogether. These are tough economic times. I need to take some time for me and the belongings I’ve already purchased.