Is anybody shocked that closings and layoffs are only a temporary fix that solves exactly nothing in the long run for Sears?
Just looking at quarterly results would make that perfectly clear to anybody with half a brain.
And yet that seems to be the ONLY strategy being used to "save" Sears. It's like those on top don't really want to s...oh, wait...
There's a long history at Sears of temporary fixes that don't solve anything in the long run . The company has been on the downhill slide since roughly 1970, making this almost certainly the longest corporate decline in history. It amazes me they even made it to the 21st century. Management passed up dozens of possibilities to revive the company or transition to better business models. But instead they took the "cost cutting" route, always responding to competitive pressure by cutting expenses and refusing in invest in the business. The appearance of Eddie Lampert put the final nails in the coffin. Instead of doing anything positive to improve the business, he just took cost cutting to an extreme. Sales and profit results fell through the floor not long after Lampert got involved.
Here we are in 2018, and the formerly two largest retailers in the country now do less total sales than Dollar Tree. I hope for the sake of everybody involved they just pull the plug on this thing in the next year or two. There is no hope of recovery.
@zhl- I don't think any other retailer has dragged out a liquidation for this long, and I don't think something like this will ever happen again. Liquidations are measured in weeks or months, not years.
I never expected to be with sears 11years!! Writing was on the wall at least 5 years ago
The most slow-motion bankruptcy/liquidation in history. At least it's keeping some of the employees employed for longer, and some of the remaining customers able to get some nice deals for longer.
Yup, it's all just a smoke screen. If this were a normal company run by a normal CEO this place would have been shut down at least about 2 years ago.