Kmart accounted for about 37% of the Sears' (SHLD) 2011 revenue and is the asset upon which CEO Eddie Lampert built his department-store empire over the past decade, is watching its sales decline, reports the Wall Street Journal. In November and December, Kmart's same-store sales fell 3.8%, while Sears's domestic same-store sales rose 0.5%. Kmart has stumbled in recent quarters because of increased competition, missteps in its grocery business and turf battles in the urban areas where it has traditionally been strongest.
- Investment & Company Information
- Eddie Lampert
- the Wall Street Journal