Lampert’s failure to invest in stores may end Kmart and Sears
June 19, 2018
Best Buy was a retailer struggling to find relevance in the marketplace five years ago. The chain included store upgrades as part of an omnichannel strategy that has helped reverse its fortunes. Last year, Best Buy spend $15.36 per square foot in capital expenditures. As a point of contrast, Sears Holdings spent 91 cents per square foot under the leadership of CEO Edward Lampert. Today, the company’s Kmart and namesake stores are virtually unshoppable, which is why many expect the two chains to fail.
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