HOFFMAN ESTATES, Ill. — Shareholders of Sears Holdings Corp. will finally get to hear from the company’s reclusive chairman, when Edward Lampert makes his annual address at the retailer’s suburban Chicago headquarters.
HOFFMAN ESTATES, Ill. — Shareholders of Sears Holdings Corp. will finally get to hear from the company’s reclusive chairman, when Edward Lampert makes his annual address at the retailer’s suburban Chicago headquarters. Lampert’s comments are traditionally the highlight of the yearly shareholder’s meeting, and the meeting Monday comes as retailers across the country are seeing sales slide as consumers cut back on spending because of the recession. Last year, Sears saw its annual profit tumble 90 percent to $53 million, or 42 cents per share. That’s down from $826 million, or $5.70 per share, in 2007. Sears operates both Kmart and Sears stores. It has been particularly hurt by the housing crunch, which is cutting into sales of appliances and other big-ticket items for the home. ______ Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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