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Monday, June 20, 2016
Sears Holdings Cares More About Wall Street Than About Customers, And That’s Why It’s Doomed
Eddie Lampert, the manifesto-writing hedge fund manager who runs Sears Holdings, the company that owns Sears and Kmart, doesn’t understand retail. That’s isn’t always a bad thing in a manager: sometimes leaders with fresh perspective bring in fresh ideas. For Sears and Kmart, it’s meant over a decade of no investment in the company and the slowest liquidation and dismantling in retail history.
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4 comments:
The problem is Sears got greedy and started to change on their quality opting to have products manufactured overseas. This resulted in crappy products. Sears used to be a top-notch for anything you bought an overwhelmingly Superior quality, but not today.
They actually DO understand & have an agenda that is far more profitable to them than the retail business.Who among us (unless we've been asleep for the last 30 years) hasn't seen the decline in this corporation? Sears used to be the go to place for practically everything,but when leasing mall space took over nationwide the profit began to disappear,hence the Wall Street profit option which was the only thing left.Multiply every Sears mall store in the US times $250,000 per month rent & do the math.
Isn't this the problem with most large corporations in America today? Look at Amazon. They outsource to other countries while their consumers can't afford to keep buying from them because they don't have a frigging job! Corporate America has gone completely insane with their moral bankruptcy and money before people meme. They would rather import radicalize immigrants and refugees for cheap labor rather than worry about the safety of their workers or the communities their offices are in. Just ridiculous. This country needs a complete reset.
K-Mart is a joke. Their Garden Center doesn't have most of what you are looking for so you are forced to go to Lowes or Home Depot or Wal Mart. The Salisbury store if filthy. Dressing rooms are falling apart. Long time employees are counting the days hoping their retirement comes before the store is closed completely.
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