Sears Holding Corp. didn’t waste any time with its plans for a turnaround in how they conduct business, announcing the hiring of Ron Boire as EVP, chief merchandising officer and president of the Sears and Kmart store formats. Boire comes to Sears with a great deal of experience in turning around struggling retail companies following his tenure as CEO of Brookstone, president of Toys “R” Us North America, and EVP, global merchandise manager for Best Buy.
The most recent data for sales at Sears were very poor and dramatically underscore the need for a change at the top. In addition to the change in leadership, Sears also announced that they would be closing as many as 120 of their 4000 stores, with 79 of those already being named for the scrap heap.
Boire said that he is excited by the challenges that he will face as head of Sears but he is also persuaded by the retailer’s opportunities and strengths. The CEO and president of Sears Holdings’, Lou D’Ambrosio, said in a recent statement that Boire should be able to help with the company’s turnaround efforts , noting that Sears is in the midst of a transformation of their business, from the top to the bottom. He went on to note that many difficult decisions have already been made and that more will be necessary in the future.
Boire resigned from his post at Brookstone on Tuesday, January 3, 2012. Adam Suttin, a partner of J.W. Childs Associates, said in a statement released following Boire’s resignation that Brookstone was fortunate to have Boire’s leadership over the past two years.
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My Take:
If Sears is going to take back any market share from its competitors, it will have to make dramatic changes in the way it does business. These changes start in the front office and will have to run down to every aisle in their stores because this longstanding American icon in the retail market has allowed itself to be overtaken by more savvy competitors.
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Other Resources
Benchmark for Performance
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New Information Technology Information
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Bringing Rustics to Life
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Car Manufacturers and Luxury
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Notable Canadian Cases
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Best Video Ideas
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Modern Lighting with CFL
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