The Sears Turnaround Stategy Looks A Lot Like JC Penney’s

ron boire

After terrible holiday sales and announcing that it’s closing 120 stores, Sears is bringing in a chief merchandising officer Ron Boire to turn the company around.

JC Penney did the same thing a few months ago when it hired Ron Johnson and a bunch of other talent to make it profitable again.

Both companies are focusing on hiring retail experts, ramping up e-commerce, web and mobile to compete with major players like Amazon that are challenging their traditional retail models (via Businessweek).

They’re also trying to differentiate — like with more exclusive product lines and new services— because other big discount chains like Walmart and Target are majorly outperforming them on price.

Boire was previously hired as a turnaround guy for Brookstone, where he was CEO, and Toys R Us (though he was eventually “terminated without cause” from that job in 2009, according to an SEC filing).

Now read more about why Sears is struggling >