In the weird irony that is often part of retail (and life in general), Sears Holdings recently announced its first quarter of comparable sales growth in many years—and I believe only its second or third since I left the retailer in 2003! It turns out that the liquidations sales being held in the many Sears and Kmart locations that … Continue reading Dead brand walking: Sears is going out with a bang
I suspect hardly anyone is surprised when an ailing retailer announces plans to shutter locations en masse. Across the last several years we've seen dozens of once mighty chains close hundreds of stores in hopes of staving off a trip to the retail graveyard. Last week, having already closed some 120 stores in a bid … Continue reading The critical question for struggling retailers: Too much store or not enough brand?
The Lampert Delusion might be a good name for a Robert Ludlum novel. Unfortunately it is more apropos of the apparent strategy Sears Holdings' principal shareholder and CEO is employing to try to save the flailing retail chain. Regular readers may remember that I have been calling Sears "the world's slowest liquidation sale" since 2013 as it … Continue reading Sears: The world’s slowest liquidation sale picks up the pace
It's been a long sad slog for J.C. Penney. In 2011, after more than a decade of (at best) mediocre performance, the company brought in Ron Johnson from Apple as its new CEO. In what some saw as a bold attempt at transformation — and others saw as a misguided Hail Mary pass — retail's latest savior changed just about everything … Continue reading It’s just about time for full-on panic at J.C. Penney
Recently Sears Holdings made several interesting announcements. First, it declared it was closing 63 more stores, in a continued false notion that it can shrink itself to prosperity. This is in addition to the 358 Sears and Kmarts already shuttered in 2017. Then it issued a press release detailing steps it's taking to improve its financial structure, wherein it included … Continue reading Sears: Dead brand walking