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Restructuring at Sears Roebuck & Co. (1992-03) |
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Please note: This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source. Chat with us Please leave your feedback |
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EXCERPTSSears Under Arthur MartinezWhen Martinez took over as the head of Sears' merchandising group, he observed that employee morale was low and the company lost track of changes taking place in the external environment and how its competitors were managing their businesses. He also observed that Sears lost focus of its customers. Troubled Credit Card BusinessAccording to reports, by November 1997, the outstanding payments on credit-cards were around $393 million, which was 44.6% increase over the 1996 figures. In addition to the credit card outstanding payments, Sears also faced lawsuit for adopting aggressive credit card debt-collection methods, violating US bankruptcy laws.
Troubled Retail BusinessesAnalysts pointed out that in addition to problems in the credit card business, Sears had other problems too. The apparel line of Sears was not attracting customers and it failed to keep up sales though its initial sales were promising. Commenting on the company's performance in 1998, Martinez said, "As a company, we had many things to be proud of last year. But frankly, [it] was not as good as we had come to expect." Analysts also attributed the slow down in Sears' sales to increasing competition from discounters and other retail stores...
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