The findings are a bright spot in an otherwise bleak picture for Sears, which posted a net loss of $573 million in the most recent quarter. Experts have criticized the retailer for years of underinvesting in its store base, which has led some to call for the chain to liquidate.
Still, CEO Eddie Lampert has remained steadfast in his goal to right the ship at Sears, with some of his top priorities including building out its online capabilities and its Shop Your Way loyalty program.
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"We have continued to show progress in our transformation, as demonstrated by our year-over-year increase in online and multichannel sales, and with our member sales now representing 73 percent of eligible sales," he said following the company's most recent earnings report.
Bailey said that despite the retailer's strong performance, being a "digital genius" doesn't change the fundamentals of Sears' business.
"Sears is definitely trying to leverage digital as a life raft, but digital alone cannot pull them out of the hole they have dug for themselves," she said.