RetailWire started a provocative discussion among its BrainTrust panelists by headlining its article: “Should Eddie Lampert Fire His CEO?” (Referring to himself, of course.) I’ve had plenty to say about Sears Holdings over the years, and my latest comment follows:
It doesn’t matter whether Eddie Lampert carries the CEO title or not…as the question suggests, he is calling the shots. The answer is “no,” if the conventional definition of a turnaround is actual improvement in operating results, merchandising and the store experience. But none of these has been on Mr. Lampert’s agenda for a long time, while he is more preoccupied with ways to leverage the company’s assets and come up with farfetched ideas like data storage and disaster recovery. So don’t expect this picture to improve anytime soon — the only question is what’s the endgame.