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Sears Says, “$2.4 Billion” In Losses … No Biggie … We Got It …


(there are a few clouds)

Lou D’Ambrosio, Sears Holdings’ CEO/president, said, “It’s also important to distinguish between our earnings issue and the strength of our balance sheet, where we have significant assets and liquidity. We are further strengthening the balance sheet by approximately $1 billion through the actions we are announcing today regarding Hometown, outlet, and hardware stores, a real estate transaction, and inventory reductions.

As we operationally improve the business, we are also accelerating our actions to lead in integrated retail. We are combining our massive retail assets with a set of technology platforms we are building to reshape and deepen our relationships with Shop Your Way Reward members – at the store, online, and in the home.”

You can read more at TWICE.com (CE industry trade magazine).

The Chairman says in an open letter, we’re on it!

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25 February 2012 Financial 17 Comments


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