Sears is suffering from the steepest decline in operating performance since 2006 among its rivals, according to a new report from research firm Green Street Advisors. Based on the firm's operating performance index, which measures same-store sales growth by gross margin percentage, Sears has seen a decline of more than 50 percent, compared with about 10 percent for Nordstrom and Macy's.
Getting Sears back on track may take extreme measures, the report suggests. How extreme? The retailer would need to shutter 43 percent of its existing stores, or 300 locations, to get back to the productivity it enjoyed in 2006, before the recession hit. It would also take Sears back to the days before hedge fund billionaire Eddie Lampert became its CEO, a reign that's been criticized as ineffectual at best.. . . more