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Post by Dominiko on May 15, 2011 1:49:15 GMT -5
Source: www.globest.com/blogs/counterculture/-309874-1.htmlAs usual, there are some new plans in the works at Sears Holdings. And as usual, the retailer reported another disappointing quarter with sales and earnings dips. At least some things in life are consistent. What's new on tap at Sears, according to the retailer's new CEO Louis D'Ambrosio, is a focus on the company as a "group of assets" that includes brands such Kenmore, Craftsman and others. The company will also focus less on apparel and let other operators lease space in their stores to concentrate on those items. We're assuming that the leasing of Sears space is what interests most retail real estate people in the company right now. Forever 21 is in its apparel department in select stores, and it has even given some space to Whole Foods. All of this is interesting, but it seems uncertain how it will impact sales. Will a focus like this save the retailer in the longer term, or as one analyst told the Wall Street Journal, is Sears "a ship that's been taking on water and maybe the pumps now are giving out?" Either way, Sears will be attending the ICSC RECon event later this month. We'll be intersted to see the kind of traffic its booth gets.
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Post by maintainthis on Oct 13, 2018 22:09:01 GMT -5
Good question. But the problem is that Sears, Sears Roebuck and Co hasn't had it's act together for at least a decade and a half. In October 2002 one could say Sears almost basically got caught cooking the books with it's credit card revenue/profitability. nypost.com/2002/10/18/sears-plastic-bomb-stock-dives-32-as-credit-card-biz-hits-profits/This is the management and ceo that took Sears down this path, not fast Eddie Lampert. Alan Lacy and his executive management team in place at the time either enabled or participated in crap like this. Sears fate was not just about poor retail strategies and practices. Corrupt management not only crashes a company's finances but management effectiveness, reliability and trust. Throw in a Kmart that still had a lot of legacy management and policy that were schooled on the very practices that crashed them Sears Holding's fate basically starts at the turn of the century. The seeds were planted in the 90s & earlier.
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