Sears Thinks Its Membership Program Is Key to Turnaround

by Nate Wooley | May 3, 2013 9:55 am

Sears Thinks Its Membership Program Is Key to Turnaround

sears Sears Thinks Its Membership Program Is Key to Turnaround[1]Eddie Lampert, the newly appointed CEO of Sears Holdings (NASDAQ:SHLD[2]), thinks the company is poised for better times ahead.

Lambert,  majority shareholder and company chair, spent two hours in front of investors at the firm’s annual meeting this week, Bloomberg reports[3].

In his presentation, Lampert showed off new products and processes that he believes will lead to a turnaround in the fortunes of the ailing retail giant. He told shareholders that the company’s member rewards program is vital to the future success of the company.

“We are becoming a company focused less on products and less on stores and much more on members,” Lampert told the supportive crowd.

The program — which Lampert says has tens of millions of members — saw strong growth last year, both in membership and in sales per member.

Beyond that, Lampert told the faithful that the company still needs to improve. Both improved customer service and a better connection via the store’s online sales will be a focus.

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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/03/sears.jpg
  2. SHLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=SHLD
  3. Bloomberg reports: http://www.bloomberg.com/news/2013-05-01/lampert-reaps-cheers-at-sears-meeting-amid-sales-skid.html
  4. Victoria Beckham to Open Retail Store: http://investorplace.com/2013/04/victoria-beckham-to-open-retail-store/
  5. How Long Can Amazon Defy Gravity?: http://investorplace.com/2013/04/how-long-can-amazon-defy-gravity/
  6. Starbucks Trims Packaged Coffee Price: http://investorplace.com/2013/04/starbucks-trims-packaged-coffee-price/

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