Sears Holding (Nasdaq:SHLD) just gave to long-term guidance that investors needed to hear. Eddie Lampert who has no experience as a Merchant or retailer will take over as CEO. The existing CEO has quit because of poor sales and inadequate profitability.
Eddie Lampert is stuck. No one will buy him out. He tried to duct tape K-Mart and Sears together on the basis of what a spread sheet told him. Unfortunately the spread sheet had poor predictive powers and now Eddie Lampert has been twisting in the wind in full display.
About the only thing that has stayed constant is Eddie Lampert. No one has a good idea to turn the joint around; including Eddie Lampert.
Retailing is a very very tough business. Wal-Mart (NYSE:WMT) is and will be a powerhouse. Target (NYSE:TGT) continues. JC Penney (NYSE:JCP) some feel will be resurgent. Someone has to take a dive.
Sears has been kissed by Judas.