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Text size [+][-]  Tuesday February 9 2010GLOBAL EDITION

Considered view
28 Aug 2008 17:07

Entrenched management

Context News

Sears Holdings reported revenues of $11.8bn for the second quarter, a decline of 4% from the same period last year. Net income declined 62% to $65m.

The retailer, which operates Sears, Sears Canada and Kmart, saw same store sales decline 6.2% over the quarter.

 

Another dismal quarter shows Sears’ strategy is failing. The retailer's stock is melting down and rivals are eating its lunch. Sears even missed easy gains from the real estate boom. As the top shareholder, Lampert should fire the chairman and architect of the strategy – himself.

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More stories by:  Robert Cyran






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