Kevin Hourican, executive vice president of CVS Health, recalls one of his early employers.
Only 20 years ago, Hourican said, Sears, Roebuck and Co. had the largest US market share in home appliances, consumer electronics, toys, home fashion, children’s apparel, tools, and even batteries. Today, the retailer’s primary purpose is avoiding bankruptcy.
“In how many businesses does Sears still have the number one-market share today?” Hourican asked delegates at the 2018 Shop.org Conference, an event held by the National Retail Federation (NRF).
“The answer is one – but barely – and that’s appliances … and not for long: Kenmore is up for sale.”