Reuters reports that Sears Holdings CEO Eddie Lampert is saying that his company's inability to compete in the marketplace and virtual hemorrhaging of market share is at least in part "because of moves to increase the minimum wage and different tax rules for online retailers like Amazon ... In an annual letter to shareholders, Lampert described a U.S. operating environment stacked in some ways against traditional companies like once-iconic Sears, which has lost more than $8 billion over the past five years, all under his watch."
- KC's View:
- Lampert forgot to blame the weather. And the dog that ate his homework.
I'm not saying that the marketplace is not a challenging one, and that an increased minimum wage and some tax laws don't create issues. But if he actually were able to stock attractive merchandise and get customers into stores that are not anachronistic, maybe the other problems would be of lesser consequence.