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December 1, 2008 8:19:36 AM CST


Edward Lampert

Edward Lampert news stories

2 Stories

Slumping Sears Ousts CEO

Board dumps Lewis
as part of restructuring plan to boost retailer's falling sales, stock

(Newser) - Sears Holdings CEO Aylwin Lewis will depart as part of company-wide restructuring, the Wall Street Journal reports. Sears stock has plummeted 40% since July, and the retailer's sales were down 3.5% this holiday season. The company, which was created when Kmart Holding Corp. took over Sears in 2005, last week announced a plan to decentralize the chain of command, up capital spending by $200 million, and reformat stores. More »

More about:  CEO Sears Eddie Lampert Edward Lampert

Sears Plans Reorganization to Revitalize Biz

Sagging fortunes since 2005 merger with Kmart prompts a shakeup

(Newser) - Foundering retailer Sears is hoping yet another change of course can help it sail out of its financial doldrums after watching its stock value drop in half this year and warning investors fourth-quarter earnings would plummet 57% from a year ago, reports the Wall Street Journal. Chairman Edward Lampert plans a reorganization creating as many as three dozen separate operating units. More »

More about:  retail stores retailing Sears Holding Edward Lampert

2 Stories

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