According to a report in the Wall Street Journal, Eddie Lampert has managed to avoid the liquidation of Sears after sweetening his bid for the ailing chain.
A host of new brands and business models have carved out market share from long-standing players – those focusing on a more direct to consumer model are at the forefront of this.
Although this was a jolly holiday for most retailers, there was little cheer for J.C. Penney where comparable sales dropped by 5.4% on an unshifted basis.