Seems as though once Ed got his hands on SHO , SHO and SHLD are walking down the same path holding hands. Stores are closing , owners are given limited inventory, logistics is a nightmare, service is horrible, commissions are cut almost 2-3 weeks on even given month , lack of advertising, lack of mirrored prices from Sears.com and the list goes on . Everything Ed touches seems to crumble. Maybe he has a plan or maybe he’s just bobbing down the river until we all hit the waterfall!
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Eddie controls a major amount of Sears stock, and is chairman of the board, in addition to being CEO. With his ego, I don't expect him to be convinced to step aside until he runs the whole thing into the ground, and I don't think he can be forced out.
Too little, too late....way too late
Here is what SHLD BOD need to do to save Sears/Kmart:
1) Find a new CEO. Current CEO is tarnished and can no longer lead effectively. The new CEO should have experience running a retail company or supply chain company or even someone like a general who commanded the supply chain during war time or someone who has run a big event like Olympic game.
2) Sears brand is tarnished. It should be re-branded to something that is not related to Kmart or Sears. Maybe Roebuck or Diehard for a name or just SK for Sears and Kmart.
3) Close all FLS and Kmart stores. Save auto center and appliance hardware stores but re-brand it to Diehard auto or Diehard hardware store.
4) Shut down sears.com, kmart.com and shopyourway.com. These are big money losers since the beginning.
5) Simplify checkout process. No upsale, no credit card signup, no commission, no reward points and coupon. Pay sale associates fair wage.
6) Increase partnership with Amazon. Online store within Amazon.com only and price item comparable to or below market. Concentrate on fulfillment and services.
7) Trim workforce and department at headquarter. No outsourcing labor.
8) Trim products and assortments. If it were hard to fulfill or pick then it should not be sold or let it be FBA.
9) Modernize fulfillment centers with new technology. Right sizing and simplify IT systems.
10) Build morale, reward all associates with stock options by double outstanding shares.