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Sears Holdings (SHLD) gives an update to its Q4 and FY12 earnings guidance, saying it sees Q4...

Sears Holdings (SHLD) gives an update to its Q4 and FY12 earnings guidance, saying it sees Q4 EPS coming in at around $1.25 - $2.00, beating consensus estimates of $0.86, on an adjusted EBITDA of $265M - $465M. FY12 EPS is expected to come in at a loss of between $1.16 and $1.92, beating consensus estimates for a loss of $2.66. Separately, the company annnounces that CEO Louis D'Ambrosio will step down due to family health matters at the end of the company's fiscal year on February 2, 2013. Edward Lampert will assume the role of CEO, in addition to his role as chairman.
Comments (3)
  • idkmybffjill
    , contributor
    Comments (1560) | Send Message
     
    Damn....Eddie's got a full plate now.
    7 Jan 2013, 09:15 PM Reply Like
  • jasonrothman1
    , contributor
    Comments (124) | Send Message
     
    Another CEO bites the dust. Maybe "upper management (Lampert) was on (Lou) for not performing and executing fast enough." We'll never no for sure if "family health matters" is the real reason for stepping down, but from what I've read he'll leave with almost $10 million in compensation this year for his efforts.
    8 Jan 2013, 12:31 AM Reply Like
  • Micah
    , contributor
    Comments (462) | Send Message
     
    Nice work Lou, glad to hear somebody is making money off Sears.
    8 Jan 2013, 05:51 AM Reply Like
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