Less than a month after Sears Holdings signed a deal to sell 11 of its anchor pads to General Growth Properties , the company has brought in a new president of real estate development . David Lukes spent the past two years as president of Mall Properties Inc., but before that he was also a COO at Kimco Realty Corp. and director of development at Myers Development Company, according to his LinkedIn profile . According to comments made by Sears CEO Lou D’Ambrosio : Historically, Sears has selectively realized value
HOFFMAN ESTATES, Ill. — Sears Holdings remains positive about its future despite reporting a wider loss for the third quarter and comps declines across its retail segments. The company reported a net loss of $421 million, or $3.95 per diluted share, for the third quarter of 2011, compared with a net loss of $218 million, or $1.98 loss per diluted share, in 2010. Comparable-store sales at Sears' U.S. stores were down 0.7%. According to the company, the decrease in sales at Sears domestic for the quarter was due to poor performance in appliances and consumer electronics. Kmart comps dropped
News Breaks August 18th, 2011HOFFMAN ESTATES, Ill. ? Both sales and profits fell at Sears Holdings Corp. during the second quarter as fewer stores in operation, weaker same-store sales and lower gross margins took their toll. The companys net loss ballooned 274% to $146 million, or $1.37 per diluted share, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 69% to $79 million. Revenues dipped 1.2% to $10.33 billion, reflecting store closures, flat comparable-store sales at Kmart and a 1.2% decline in comp-store sales at Sears domestic outlets. We are not satisfied with our results and are
Sears Holdings announced that Robert Schriesheim will join the company as executive vice president and chief financial officer. Schriesheim will assume his responsibilities as CFO effective Aug. 22. Schriesheim, 51, most recently was CFO for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon Corp.
Sears announced that Sam Solomon has joined the company as senior vice president and president of its tools business. Solomon is responsible for developing and driving growth and profit opportunities for one of the company's cornerstone businesses, the company reported.
Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday it was named 2011 Energy Star partner of the year in the product retailer category by the U.S. Environmental Protection Agency. The award is Sears’ second consecutive. "This award is a reflection of the significant commitment our entire organization has made to promote energy efficiency and help our customers make changes that allow them to save money," said Lou D'Ambrosio, CEO and president of Sears Holdings. Among the initiatives that contributed to Sears Holdings’ EPA award were the national campaign “The Big Switch” that drove customers to convert to Energy