With other retailers spending money on their businesses, Sears was probably on the sidelines. A Susquehanna Financial Group report said that Sears spent approximately 91 cents per square foot on both online and in-store upgrades in 2017, while JC Penney spent $ 4.13, paid Kohl's $ 8.12, and paid Best Buy $ 15.36 Square foot output improvements
The trend began under Martinez. Under his tenure as CEO, from 1995 to 2000, Sears closed more than 100 stores, sacked more than 50,000 workers and hired Sear's famous catalog. He tried to cut costs as sales began to fall, but the difficulties only increased.
When Lampert took over as CEO in 201
"I think if it was another retailer, they probably would have filed for bankruptcy," said Ken Kenkins, founder of Retail Metrics to CNBC. "But in Sears' case, someone with deep pockets can raise money, dispose of real estate and sell assets … the closet runs very empty and there is not much left."