“While Sears was once a titan of U.S. retail, it now looks set to sink,” Saunders wrote in an email to Retail Dive. “We do not make these claims lightly, but only on the back of the evidence available. First, the top line has been in decline for as long as anyone can remember. Comparable sales have been on the slide for just over 11 years. This quarter shows no sign of even the mildest of improvements.”
As Sears continues to close stores, Saunders said many malls will be faced with hardship, unless they can replace those locations with better performing retailers. Rivals like J.C. Penney, which is already taking market share from Sears in appliances, could continue to benefit from Sears’ woes.