It was December 2002, and Garry Kelly, the newly appointed CIO of Sears, Roebuck & Company, looked out of his office window and contemplated the issues he needed to discuss in the management committee meeting the following day. Garry had arrived at Sears only a few weeks ago when the company was at a critical juncture. Sears’ net income in 2001 had fallen to $735 million on a revenue level of $41.1 billion. These figures reflected only half of the profits it had recorded two years earlier, on a similar level of sales. Sears also faced intense competition from rival retailers across the nation, new dot-com e-tailers as well as from the specialty stores that had been eroding the profit base for the last couple of years. Investors, stakeholders, and employees were anxiously looking for signs of turnaround at the giant in the U.S. retailing industry.