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Sears as Lampert’s ‘Mismanaged Asset’ Loses Customers to Macy’s
When Kmart acquired Sears in 2005, Chairman Edward Lampert said the new company would have the geographic reach and scale to compete with Wal-Mart Stores Inc.
The billionaire hedge fund manager has since presided over 18 consecutive quarters of declining sales. He’s on his fourth chief executive. While Sears Holdings Corp. shares soared in the first few months after the merger, they’ve fallen 55 percent in 2011 alone.
Sears “has been a mismanaged asset,” Gregory Melich, an analyst at International Strategy & Investment, said in a Bloomberg Television interview yesterday. “A lot of traditional department stores have reinvigorated themselves through merchandising, through changing their locations; you think of Macy’s. You haven’t seen that from Sears.”
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kris is discussing.
kris 8:31 am on December 28, 2011 Permalink |
Interesting article, but I don’t think it really gets into what the problem with Sears is. I think Sears has been chasing a whole bunch of crap for years now (the “softer side of Sears”, remember) while ignoring what it was good at – home stuff. So now they have a terrible reputation when it comes to those kinds of Sears products that they should be known for – washers, fridges, etc. They should have concentrated their efforts on making that home side of the business second to none and pretty much outsourced the “softer side” crap to their Land’s End partners or other similar partnerships they could have developed.