December 27, 2011
Ronald Friedman, Co-Leader, Retail/Consumer Products Industry Group, Quoted in Los Angeles Times Article "Sears, Kmart to Close up to 120 Stores After Holiday Sales Slump"
By Shan Li and Ricardo Lopez
In the article, Mr. Friedman said, “The stores are not fresh and appealing, and the company has not invested in modernizing them and keeping people wanting to come back.”
Additionally, Mr. Friedman said, "They remind me of J.C. Penney many, many years ago — they were known for cheap, junky-looking stores before they went in and modernized all the stores."