Sears, Kmart store closings planned after poor holiday sales
Source:
APP.com
Date:
Tuesday, December 27, 2011 Sears Holdings Corp. plans to close as many as 120 Sears and Kmart stores because holiday sales for appliances and other big-ticket items failed to keep pace with last year, the company said Tuesday.
Rutgers Business School’s dt ogilvie, a professor of business strategy and urban entrepreneurship, said Sears has been slow to adapt to changes, whether it is accepting credit cards other than the Sears card or sprucing up its stores.
“Sears had a strong culture,” said ogilvie, who spells her name using lowercase letters. “It can be good, but also bad because it locks you in. You can’t see other ways of doing things. For a lot of its history, it was one of the top five retailers. And it’s hard to do things differently. That causes problems.”
