Retailers Regroup while E-commerce Expands
The retail industry is undergoing a myriad of changes as some business leaders build plans to get out of debt while expanding their e-commerce sales. A shopping center near Charlotte, North Carolina, where a Kmart and Sears are side by side, will lose both tenants this weekend when the department stores shut down for good. Still, Edward Lampert, Chairman and CEO of Sears Holdings, has plans to rebuild, digitally, while his company closes 150 brick-and-mortar stores this year. "Going forward, Sears will be more focused on our Shop Your Way membership platform, a network with tens of millions of active members, and our Integrated Retail strategy in order to be a more nimble, innovative and relevant retailer that is better able to provide value and convenience to our customers.” Lampert’s plans to shift from the traditional storefronts to include e-commerce and new shopping options is a common theme for many retailers. Staples, for example, recently joined other store owners and announced plans to streamline their organizations. In the middle of what some experts call a gloomy forecast, Staples CEO Shira Goodman has growing aspirations. “…I’m increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth."
Posted on Fri, March 16, 2018
by Ron Magnuson