Content about Edward Lampert

December 4, 2014

Sears Holdings reported a third-quarter loss, though one not as wide as economists expected.

As the retailer has been posting months of consecutive losses and sales declines, CEO Edward Lampert stressed the steps it was taking to minimize its expenses and generate more revenue.

October 3, 2014

In keeping with its previously announced plans, Sears Holdings Corp. has officially sold the majority of its 51% stake in Sears Canada, lowering that number to 12%.

September 22, 2014

Law firms are swarming around Sears Holdings regarding the short-term loan it recently secured from CEO Edward Lampert's hedge fund.

According to the law firms, Lampert's significant stake in Sears Holdings could potentially undermine the legitimacy of the loan, which is secured by 25 undisclosed Sears properties that Lampert could swap out at will.

September 18, 2014

Sears Holdings (SHLD) continued bleeding share value on Thursday in the wake of its announcement that it was borrowing money from CEO Edward Lampert.

September 16, 2014

Sears Holdings (SHLD) dropped 9.40% on Tuesday after filing for a $400 million loan from CEO Edward Lampert's hedge fund.

September 16, 2014

The embattled Sears Holdings is taking all the help it can get, even if that means reaching into the pockets of its CEO, Edward Lampert.

According to an SEC filing submitted on Monday, the retailer is securing a $400 million loan from ESL Investments, Lampert's hedge fund, which will be used for as-of-yet unspecified purposes.

Lampert -- and by extension, ESL Investments -- currently stands as Sears Holdings' biggest shareholder. However, ESL lowered its stake in Sears less than a year ago due to pressure from wary investors.

August 21, 2014

Describing second-quarter earnings as "unacceptable," Sears Holdings Corp. chairman and CEO Edward Lampert added that his company's transformation is continuing and online sales are growing.

The company reported second-quarter net loss of $573 million, compared with a loss of $194 million in the same quarter last year. Revenues decreased $858 million to $8.0 billion for the quarter ended Aug. 2, 2014. 

July 8, 2014

Sears Holdings has hired Kristin Coleman as SVP, general counsel and corporate secretary, where she will oversee the Legal, Corporate Communications, Environmental Services, Global Compliance, Government Affairs, Internal Audit and Product Safety business units.

"I am pleased Kristin is joining our leadership team. She is a proven leader with experience managing legal, compliance and corporate governance issues," said Edward Lampert, Sears Holdings chairman and CEO.

May 22, 2014

Hoffman Estates, Illinois-based Sears Holdings chairman and CEO Edward Lampert beat the drum of “transformation,” as the retailer posted another quarter of declines in consolidated sales and earnings.

The good news: Online and multichannel sales grew 26% over the same quarter last year. And Sears Domestic comp-store sales grew 0.2%.

May 8, 2014

There are more store closings in Sears’ future. In an address at Sears Holding Corp.’s annual shareholders meeting, chairman and CEO Edward Lampert said the company would close stores and look for ways to leverage its real estate as it continues to focus on integrated omnichannel retail and its Shop Your Way rewards program.

"Closing stores is going to be part of our future," Lampert said. "I'd rather do (fewer closures) rather than more, but the world has shifted."

April 15, 2014

Sears Holdings has tapped Arun Arora as SVP and president, Home Services, in which role he will take charge of the business unit's In-Home Repair Services, Service Contracts, Carry-In Repair, Sears Home Improvement Services, Parts Direct, Commercial Sales and Sears Franchise Businesses.

December 4, 2013

Sears (SHLD) shares were down 8.33% after Sears Holdings CEO Edward Lampert reduced his stake in the company Wednesday.

November 25, 2013

Sears Holdings issued a statement on Monday, discounting the New York Post's assertion that a sale of Sears Canada was in the works.

October 29, 2013

It's no secret that Sears has been struggling, but a less-than-robust Q3 earnings report may have prompted the retailer to make a few drastic moves in an effort to sustain itself.

October 11, 2013

A report from Cleveland Research points to significant management turnover at Sears, which has been linked to frustrations over inventory reduction aimed at improving cash flow.

The activity is nothing new for the struggling retailer, whose sales have dropped every year since 2007. Turnover has been a continued theme, with former CEO Louis D'Ambrosio exiting the scene in February and chairman Edward Lampert, who had no experience in retail, taking his place.

March 16, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

March 16, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

February 25, 2011

Sears Holdings Corp. has named a former technology executive as its new chief executive. The struggling retailer’s three-year search for a permanent CEO came to an end with the announcement on Wednesday that it has appointed Lou D’Ambrosio as chief executive and president. He will assume the office and join Sears’ board on Feb. 24. 

February 25, 2011

Sears Holdings Corp. has named a former technology executive as its new chief executive. The struggling retailer’s three-year search for a permanent CEO came to an end with the announcement on Wednesday that it has appointed Lou D’Ambrosio as chief executive and president. He will assume the office and join Sears’ board on Feb. 24. 

June 15, 2008

The numbers are in and—no surprise—they reflect a challenging market....

May 5, 2008

Sears Holdings’ annual meeting was characterized by a melancholy outlook on U.S. economic recovery. Chairman...

May 5, 2008

Sears Holdings’ annual meeting was characterized by a melancholy outlook on U.S. economic recovery. Chairman...

March 16, 2008

Sears Holdings announced that earnings took a major hit for the fourth quarter and year...

February 20, 2008

Hoffman Estates, Ill.-based Sears Holdings has elected Kevin Rollins, former CEO of Dell, to its...

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