Tags: Sears | retail | profit | strong

Sears Executives: Retailer Is Financially Strong

Wednesday, 02 May 2012 02:10 PM

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 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.

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Wednesday, 02 May 2012 02:10 PM
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