Sears Reports Another Bad Quarter
Between senior executives jumping ship during this critical shopping season and the latest round of store closures, Sears is struggling to hold on. CNBC reports sales at the department store have been dismal for some time now. Sales haven't been positive since the first quarter of 2010. Talks of Sears filing for bankruptcy have been looming as of late for the retailer, but analysts believe it won't happen until late 2017. However, despite the doom-and-gloom news around the brand, CNBC reports the department store chain has reason to hang on after the holidays into early 2017.
Total Retail's Take: It's hard to say what the future holds for Sears. In addition to exiting executives and store closures, Land's End, one of Sears’ staple brands, saw a decline in sales. While it could be due to Lands’ End's CEO being ousted earlier this year, Sears’ negative perception among consumers didn't help either. While Eddie Lampert, CEO of Sears, keeps re-investing money into the brand, it may only buy time until the inevitable happens.