USA: Sears realigns merchandising divisions, posts profit slide
Leading retail group Sears Holdings has announced a realignment of its merchandising divisions as part of a push to boost business efficiency and effectiveness.
The Sears, Roebuck and Kmart merchandising units will be centralised under the following executives with immediate effect, who will report to the chairman of the board, Edward S Lampert, until a chief merchant is appointed to the group.
Dan Laughlin, currently senior vice president/general merchandising manager of home for the group, has been named senior vice president, merchandising for Sears Holdings. Laughlin will lead the hardlines businesses across all of Sears Holdings and will oversee merchandising for Sears, Roebuck.
Peter Whitsett, senior vice president and Kmart merchandising officer, will lead the
general merchandising businesses across all of Sears Holdings and will continue to oversee merchandising for Kmart
Lampert said: "By centralising our merchandising teams under these two talented and experienced merchants, we are able to create a structure that capitalises on the strength of this combined organisation.
"It allows us to better focus on providing our customers with quality services, products and solutions. By building and aligning these teams, we'll take a more integrated approach to how we interact with our customers and how we go to market."
Sears Holdings also announced that Roger Detter, senior vice president/general merchandising manager of hardlines for Sears, Roebuck would retire from the company at the end of the month. Detter had been with the group for 33 years.
The company also confirmed that Gwen Manto, executive vice president/general merchandising manager of softlines for the group, has left the company to pursue other interests. The company is currently conducting a search for senior leadership for the company's apparel businesses. In the interim, the apparel businesses of Sears and Kmart will report to Laughlin and Whitsett, respectively.
Sears also reported today (6 December) that quarterly profit totalled US$58m - or 35 cents per share - beating analysts' average predictions of 32 cents per share, but falling far below the profit of $552m reported a year ago.
Third-quarter revenue totalled $12.2bn compared to $4.4bn last year.
Sears Holdings Corporation is the nation's third-largest broadline retailer, with approximately $55bn in annual revenues, and with approximately 3,900 full-line and specialty retail stores in the US and Canada.
Help test our new apparel sourcing tool.
When retailers go off-track, they end up trying to follow the evolution of consumer tastes, trends and spending. By the time they understand what their shopper is about, she's moved on to the next bes...
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
Retail group Sears has expanded its contract with fulfilment and integration solutions company CommerceHub. ...
Retail group Sears Holdings has appointed Lisa Schultz to the new position of executive vice president of the company's apparel design....
Retail group Sears Holdings has named a team of new executives and has announced the departure of president and chief merchant Luis Padilla....
Multi-channel retailer Sears Canada is recalling two lines of children's outfits due to a potential choking hazard....
Casual Male Retail Group Inc is launching its big and tall men's apparel on retail giant Sears' e-commerce site sears.com under a long-term agreement....
Casual apparel company Levi Strauss & Co has named John Goodman as president of the US Dockers business, effective 6 June....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Kohl's, L Brands
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022