It All Comes Back to Management

When Yogi Berra uttered the immortal words, "It's déjà vu all over again," I am certain he had neither the business world nor the jewelry industry in mind. Yet here we are again looking at another major in trouble. Chapter 11 trouble. I am referring, of course, to Kmart. But more specifically, I am concerned about the manufacturers who supply the Kmart stores. In the past 10 years, we have witnessed the demise of an entire category of jewelry business at retail—the catalog showroom. First it was Best Products. Next it was Service Merchandise. Kmart's foray into Chapter 11 territory will be successful, we hope, at least from the perspective of the thousands of individuals employed by the retail giant as well as those employed in the jewelry manufacturing firms that supply them. Based on history, that's optimistic thinking. According to those in the know, all of these majors had th

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