May 16, 2014
Ernesto McConnell
Reporter
Headlines
Sears, once the nation’s largest retailer, plans on closing more stores, in addition to the 100 that have already been shutdown this past year. CEO Edward Lampert reportedly admitted to share holders, “closing stores are going to be part of our future. The world has shifted.” Ever since Sears merged with Kmart in 2005, sales have declined progressively each year. According to Allan Ellinger, co-founder of retail investment bank MMG, “It’s evident that Lampert’s been putting Sears Holdings through a slow, orderly liquidation. Every other retailer is investing in the business. This guy is doing nothing.”
