You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Market Movers

Sears falls as chairman takes on CEO role

Sears Holdings has more than 2,600 Canadian and US Sears and Kmart stores.

Andy Clark/Reuters/File 2011

Sears Holdings has more than 2,600 Canadian and US Sears and Kmart stores.

Continue reading below

Sears Holdings Corp. fell a day after the retailer said chairman and hedge fund billionaire Edward Lampert will be CEO — even as the company offered an update on holiday sales that showed some improvement at Sears stores. Still, the company faces a long battle to turn itself around. Lampert succeeds Louis D’Ambrosio, who is leaving because of family health matters. Lampert has been known as a hands-on chairman at the chain, which has posted six straight years of sales declines.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of