No, wrong. It was wounded by Wal-Mart, no doubt. However, it was killed by finance and financial engineering. E-commerce was ancillary and a convenient scapegoat, just as it was with Toys ‘R’ Us.
Imagine, instead, a different future. Sears could’ve been Amazon. They had the distribution network. They had the warehouses. They had 1,500 stores — thus the space for sales and showrooms. They had the experience. Those chose not to do this and instead engage in real estate schemes and financial shenanigans.
Why does the press never report the real story in these cases? You know why. Not in their financial best interest to do so. The real story of Sears is should-be criminal financial schemes doomed them, just as was the case with many other retailers.