Sears changed how Americans buy consumer goods, its dominance of the retail landscape lasted almost a century. But the skills…
Sears changed how Americans buy consumer goods, its dominance of the retail landscape lasted almost a century. But the skills needed to thrive in retail trade changed a few decades ago, and Sears failed to adjust – lost more and more land to its rivals Walmart and Amazon. Earlier this week, the company filed for Chapter 11 bankruptcy. Although a version of the company comes out of the bankruptcy process, the company is likely to be a shell of its former self.
At that time, hedge fund manager Eddie Lampert took control of Sears 2005, it was already on a downhill track. Luminous strategy for running the company has been controversial, but New York Magazine Columnist Josh Barro claims that Sears’s fate may have been inevitable. And in any case, says Josh, we should celebrate the valuable contribution Sears made to the US retail rather than just regret its end.
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