Sears and the demise of an American retail icon
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As e commerce moves toward its golden age, Sears is an also ran.
An hour before closing time, a nearly empty parking lot greets shoppers at the Sears on Leesburg Pike in Falls high end replica bags Church, Va. Sears’s sales are down 37percent since early 2013, and replica bags the retailer has announced that it is closing replica wallets 150 Sears and designer replica luggage Kmart stores this year. (Allison Shelley/For The Washington Post)
Sears Holdings’ stock price peaked in 2007 at $195.18, when it was an empire with more lines of business. Today, its stock trades for less than $10. (Jeffrey P. In 2006, it had 355,000 employees; today, it has 140,000.
In this war of attrition, chief executive Edward S. Lampert has said, “We’re fighting like hell.” Lampert, a controversial hedge fund billionaire, has invested heavily in bolstering Sears’s Internet business but has let the retail stores languish. He’s now propping up the company with loans and other feats of financial engineering moves that may soften his landing if the chain fails.
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Designer Fake Bags “The past year will be remembered as one of the most challenging periods for ‘brick and mortar’ retailers and our company was one of the many affected by these head winds,” Lampert wrote in a blog post in May. Designer Fake Bags
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Sears dismisses the idea that it has run out of options. The company says it is confident in its financial position and is pushing forward with a turnaround plan, even as it acknowledged in a March regulatory filing that there is “substantial doubt” as to whether it can survive.
Replica Bags “The folks who are playing taps at our funeral, we’re not in the box,” said Chris Brathwaite, a company spokesman. Replica Bags
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