Struggling department store Sears is looking to revamp its apparel business, in part by reducing its footprint.
According to a report in Women's Wear Daily, Sears CEO Eddie Lampert said to reporters following the department store's annual meeting, "There is too much space at Sears dedicated to apparel."
Lampert also said the company is aiming to make more frequent purchases of fashion products, in smaller quantities. Making bulk purchases earlier on is a less costly undertaking for retailers, but it can come at a price.
"It's cheaper to make a decision 50 weeks out," WWD quoted him as saying. "But that's offset by the inability to learn. You make a mistake and it costs you a year."
The Sears nameplate traditionally housed apparel in 40,000- to 70,000-square-foot areas.
To read the full report from Women's Wear Daily, click here.