Sears execs say retailer financially strong
Sears executives are trying to reassure shareholders about the troubled retailer’s financial strength and ability to survive for the long term.
Speaking at the Hoffman Estates-based Sears Holding Corp. annual meeting Wednesday, they emphasized the company’s improved liquidity and latest efforts to improve sales and profitability. Sears lost $3.14 billion last year.
Chairman Edward Lampert says Sears is working to fix the company’s slumping retail operation but needs to execute better.
He acknowledged that the company is trying get more productivity out of its real estate. Sears said recently it would sell some stores and spin off others.
Lampert declined to specify other plans but downplayed reports the company is working to sell Lands’ End.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.