Was at Amazon for quite awhile, then at Sears for awhile, and wow does Sears not have its sh-- together. While Amazon is focused hyperfocused inventory turnover, sales revenue, sacrificing margins for market share, and being extremely responsive to customer retention and needs, Sears is the exact opposite, focusing on gross margins, completely ignoring turnover, and a complete lack of focus on sales per square foot. It's was readily apparent that during his tenure as Chairman and later CEO that Eddie didn't have the foggiest idea of who Sears' customers even were, bringing on product lines like the Kardashians and a revival of Jacklyn Smith, as well as focusing associates' time on poorly conceived metrics instead of trusting managers and associates with more general directives in doing what's right for member retention, a basic budget for advertising updates, and upkeep, stocking the stores with moving product. Over the last fifteen years, whatever Jeff Bezos focused on, Eddie Lampert literally steered his metrics and goals towards the exact opposite. The results are clear for the whole world to see, and analysts, the media, his executive staff, and his management all advised of him of this every single step of the way, but he refused to listen, thinking himself above the accumulated wisdom of the entire retail industry.
Now with his latest venture in Home & Life, a thin reskin of a recently failed format, he's once again focused on Appliances and Mattresses, a product with low turnover, low customer gravity and mindshare, and products that barely move. That he's heading into the future with the same insular groupthink that led to the colossal failures of the recent past is just more of his hubris and stupidity. How was it that Einstein put it? The definition of insanity is doing the same thing over and over and expecting different results?