Tuesday, October 4, 2016

Kmart, 1962-2017??? (the October 3 rebuttal)

Eddie Lampert of Sears Holdings takes issue with reports of Kmart's impending demise.

First, Kmart continues to operate over 700 stores. Second, a significant number of these stores are profitable and have been profitable for many years. Third, we have been clear that we are intent on improving the performance of our unprofitable stores and, if we cannot, we will close them. Actions to improve our store productivity, including reducing inventory stored in the stockrooms, are designed to make our stores easier to operate and to eliminate unproductive inventory and processes.

The comments on inventory reduction address previous concerns that I discussed in July, and Lampert also addressed store closures, including the latesr round that I discussed in September.

Let's see what happens after Christmas.
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