Here’s what bothers him about Lampert’s management of the once fabled retailer:
- Lack of investment in stores. “The stores are terrible; they don’t look any better than they did five years ago. In fact, they look worse.” Matthews notes Wal-Mart spends tens of billions a year on stores, while Sears is spending about $200 million. That’s no way to compete.
- No retail expert at the helm. For more than 18 months, Sears has had an “interim” CEO, Matthews notes. Until they hire someone more permanent with retail know-how they’re doomed, he says. “I kept waiting for five years: when is he going to hire the guy? Never happened.”
September 10, 2009
It’s Too Late to Save Sears Matthews Says: Tech Ticker, Yahoo! Finance
January 14, 2009
Which retailers are next for bankruptcy? – MSN Money
Which retailers are next for bankruptcy? – MSN Money.
I hope their predictions about Claire’s is wrong. Where would I go to buy my big earrings at?
