Sears’ CEO Blames Vendors

Sears is a well known retail clothing store that has been going through hard financial times since 2007. The business’ sales have been hit hard, but what is more troubling is their lack of inventory.
Though many suppliers are unwilling to come out and say it, they have concerns that the retail clothing store may not have founds to pay them for their goods.
One has only to look at a Sears store now, to see the physical effect the lack of inventory and goods is doing to the company. Barren walls, a few clothing racks scattered across some vastly empty sales floors. This gives the shopper a feeling of dread and that the company is going under and may no longer be an option in the future.
The CEO of the company Eddie Lampert; took to the company’s blog to blast one vendor in particular for the store’s empty shelves. Lampert; who is no stranger to controversy went off on a rant claiming that some of their vendors are using these, “hard times” to negotiate better deals and give them as little stock as possible.
Lampert continued to ensure that Sears is still able to keep their lights on and pay their bills. He said that their vendors have been paid in full and on time.
As refreshing as it is to see the CEO of a large business not going down without a fight, one might question Lampert’s timing for his rant. The outburst came days after he blasted the media for painting a dim picture of the company’s dwindling profits.
Perhaps Lampert shouldn’t worry about sales; if the issue is with the vendors; bad mouthing them on the internet isn’t the way to win them back.
Timing is everything and Lampert’s epic rant is just bad business.