Business

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.

Advertisement

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...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

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 BostonGlobe.com
Marketing image of BostonGlobe.com