Anticipation of a permanent shift to online shopping has been behind Sears Holdings Corp.’s work on the technology front to enhance the platform for its member-centric Shop Your Way program, according to chairman and chief executive officer Edward S. Lampert.
“A long-term change in shopper habits has reduced our traffic perhaps permanently and shifted pricing power away from malls and big-box retailers,” he said on a prerecorded call prepared in connection with the company’s fourth-quarter results. “Instead, shoppers seem to be figuring out what they want online, then making targeted trips to pick it up from retailers that offer the best price.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"