Sears CEO staying course

HOFFMAN ESTATES, Ill. — Sears Holdings Chairman and CEO Edward Lampert said he remains committed to his turnaround strategy, while decrying media coverage of the company’s woes. At the same time, he admitted that bleak earnings reports provide “a lot of ammunition to shoot at us.” Lampert told shareholders he will continue the push to modernize Sears stores, harness the power of online sales, and court loyal customers with a rewards program.

While he insisted that he is “not in denial” and that “the reality is better than the perception”, analysts question his optimism. “You just can’t find any silver lining,” McMillanDoolittle’s Neil Stern told the Chicago Tribune. The company has posted six straight years of losses, and this year’s annual report acknowledged “substantial doubt” about the company’s viability.