The Detroit Free Press reports that as Kmart moves toward its emergence from bankruptcy, with a new board of directors in place, financing arranged, bonuses awarded to key players, hundreds of stores shuttered and tens of thousands of employees fired, CEO Julian Day is still looking to hire someone.
A chief merchant.
A chief merchant.
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Anyone who has read MNB over the past few months won’t be surprised by the level of utter contempt that we feel in reading a story like this one.
This is such a graphic illustration of what has been wrong with Kmart, what is wrong with Kmart, and what will continue to be wrong with Kmart. Its priorities are completely screwed up, and the fact that hiring a merchant with real vision has been left to last is a clear signal that these guys just don’t get it.
There was a time, when Kmart started opening supercenters, that it had vision. They had a crack team, ably guided by former Kroger and Supervalu executive Gene Hoffman. But that seems like long ago. Hell, it is long ago.
Today, there is no compelling reason to walk into a Kmart store. None. And even if Kmart hires a certified merchandising genius (who may be certifiable for walking into this mess), it probably is too late.
