Thursday, March 23, 2017

Blog: Why is Sears dying?

Blog: Why is Sears dying?:
"Sears is on the verge of declaring bankruptcy.
All department stores have faced increased competition from, but Sears is out of cash and about to fail.  
Image result for searsBecause the CEO, Eddie Lampert, is a guy with nutty ideas who treated Sears like a dotcom, conveniently forgetting that it has physical stores that need maintaining.
Lampert, a former Wall Street prodigy, took control of Sears more than a decade ago and became its CEO in 2013.
But he's rarely seen in the office[.] ...
[T]he retailer, famous for selling everything from shoes to vacuum cleaners to whole houses, is facing its biggest crisis ever.
It's closing hundreds of stores. 
Others are in shambles, with leaking ceilings and broken escalators.
In some, employees hang bedsheets to shield shoppers from sections that stand empty.
Before Sears and Kmart, Lampert had no experience in retail..."

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