Sears Holdings Corp., which owns Sears and Kmart stores, will reorganize into five business units in an effort to boost performance. Its new structure will include five units: operating businesses, support businesses, brands, online and real estate. Each will have a leader, an advisory group of senior executives, and a separate, internal profit-and-loss statement. Operating business units will include lines of business such as home appliances, electronics, and apparel. Support units will provide operation and administrative support, including marketing, store operations, customer strategy, and finance. Brand units will focus on the company's brand portfolio, and the company's real estate and online units will focus on sales productivity of bricks-and-mortar and online property.
"By creating smaller focused teams that are clearly responsible for their units, we increase autonomy and accountability, create greater ownership and enable faster, better decisions," Sears Holdings Chairman Edward S. Lampert said.