Liquidating trustee wanted

Despite generally closing weaker stores, Sears' merchandise sales per square foot continues to decline and is noticeably lower than its competitors.

Sears' sales also are composed of a fairly high percentage of lower margin items such as appliances, so the gross margin per square foot is even lower when compared to competitors.

Similarly, the mini-Sears shops inside Kmart will sell appliances.It does suggest that Lampert still isn't giving up on Sears as a retail concept -- though maybe he should.Sears' sales have been plummeting quarter after quarter, causing it to burn through cash and forcing Lampert to continuously infuse it with short-term loans.Although Sears is ultimately competing against itself, it did make the best of a bad situation.Although Sears Holdings is attempting to shrink to a profitable store base, I have my doubts that it can manage that at any store base size in the end.Richard Maltsbarger, COO, has left the company, effective immediately.Maltsbarger had been with the company since 2004, and became COO in February 2018.It is creating two new positions: executive VP, supply chain, and executive VP, stores.The responsibilities that formerly fell under the positions being eliminated will be assumed by other senior leadership roles that will report directly to Ellison.Chief customer officer Michael Mc Dermott, will leave Lowe's effective Nov. Mc Dermott joined Lowe's in 2014, and was promoted in 2016.In addition to eliminating the COO and chief customer officer positions, Lowe's will eliminate the positions of corporate administration executive and chief development officer.

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