Sears CEO Cries ‘Transformation’ While Sales Skid, Loss Steepens
So far this year Sears Holdings — owner of various Sears brands, Roebuck and Co. as well as Kmart Corporation — has closed 80 stores and spun off Lands’ End through a pro rata distribution to shareholders. What’s next for the struggling retailer? The company seems to be leaving all options on the table as its billionaire CEO touts a sea change. Sears Holdings reported $7.9 billion in first quarter revenue down $573 million from the same period a year ago.
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