I worked at Sears a few years ago in receiving. Talk about luddites, I was the only one who knew anything about tech and delt with the ".com" orders coming in from the web.
I kept trying to tell them we needed to optimize for online orders to no avail. We had old-fashioned wireless G routers, so the product scanners wouldn't work in the far corners of the store.
Since we had a 5 minute guarantee (before giving out a $5 coupon to the customer) it was chaos trying to get those online and in-person orders on time.
You should have seen us running to the freight elevator (which was usually in use) then darting upstairs. Hunting for the product, only to end up in a WiFi dead zone. Then finding a live spot, scan it, then rush back to the dock and now have to find the customer and scan his receipt. All in 5 minutes.
It's no wonder they closed.
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Yeah that is a prime example of a company that was so out of date that when Amazon really started to make progress, they were one of the first one's hit.
When talking about value investing, in a comment below, Sears is one of those prime examples.
Value investing would have you buy:
Sears > Amazon
Nokia > Apple
Blockbuster > Netflix
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That's pretty horrible!
The $5 must have been the easiest $5 most of the customers have ever gotten!
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