Sears Holdings shops for media agency
Steve’s breakdown: The review includes Sears & Kmart. BTW, we knew something like this would happen review when we reported New CMO at Sears Holdings: We predict digital account will go into review! last year.
HOFFMAN ESTATES, IL: Sears Holdings is reviewing its media business, Ad Age has learned.
The Ad Age DataCenter places Sears Holdings among the top 20 ad spenders in the U.S. The company spent $1.69 billion on U.S. advertising in 2011. Of that amount, it spent $677 million on measured media.
“As a matter of good business, Sears Holdings is reviewing and benchmarking other companies in the media space,” a spokesman said.
During the past couple of years, there has been a lot of turnover in the lead marketing role at both Sears and Kmart. This review comes on the heels of the departure of David Friedman, senior VP-president of Sears Holdings’ marketing business unit. He left the company in January. Imran Jooma, senior VP-president eCommerce at Sears Holdings, was tapped to oversee the marketing business unit late last year.
Sears Holdings has been struggling for years. In the most recent quarter, revenue fell $270 million to $9.3 billion. Same-store sales fell 1.3%, including a 1% drop at domestic Sears stores and a 1.6% drop at Kmart. This drop is in line with a 6.5% decline in the company’s U.S. ad spend in 2011, compared with its spending in 2010, according to the Ad Age DataCenter.
Sears Holdings comprises the Sears Roebuck & Co., Kmart and Lands’ End business units. Lands’ End, which brought on Targetcast as its media agency in May, is not part of the media review.