“Personally, I think Penny & Sears both need to get out of malls and go Wal-Mart. The roots of both companies are discount retail, both known in time past as blue-collar stores. Sears is positioned for that if they’d simply reflag their K-Marts as Sears stores. Sears has always been known as better quality than K-Mart.”
That’s some of the best business advice I could imagine given the situation. Too bad you’re not on the board. Attempting to go Starbucks to attract the young an hip was beyond stupid. I’ve heard of rebranding, but you can’t rebrand a pig as a cow. You need to find better markets for the pig, not lust after steak you can’t produce.
Absolutely correct. At a time when Wal-Mart, Family Dollar, and the like are succeeding, is no time for a major retailer to turn itself into a boutique. In 2001, Family Dollar joined the S&P 500 stock market index. In 2002, the company joined the Fortune 500 list of largest publicly held companies. Sears could reflag the K-Marts as Sears stores and could use the K-Mart name to compete in small towns with the Family Dollars.