The failed buyout and subsequent drop in stock price was the last nail in the coffin for Ron Sargent....should have been for Smith too.
Unfortunately OD is in a much weaker position. Why fire Smith and package him out, just to hire a new CEO and then have to package them out when the fat lady sings? A new CEO will not change anything. Although some would like to gloat if he were canned, just like Sargent, he'd be laughing all the way to the bank. Rewarded for failure......
Either they get bought out (Amazon? Walmart?) or they continue to spiral into the gutter. It is a dying specialty, there will not be a recovery.
The best bet is a buyout by a more diversified retailer.