Inside these posts: Lou D’Ambrosio

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Sears continues to struggle as 4Q profit sinks

Sears' same-store sales fell 1.2 percent at U.S. stores open at least one year. (AP Photo/Paul Sakuma)

Sears Holdings Corp.’s fourth-quarter profit fell 13 percent as the retailer continues to struggle with declining sales of appliances and apparel and its namesake Sears department stores.

In his annual letter to shareholders Thursday, Sears Chairman Edward Lampert called the financial results “unacceptable” and outlined a vision for the Hoffman Estates-based retailer operating smaller stores and expanding online. Get the full story »

Sears names IBM veteran its CEO

Sears Holdings Corp. named IBM veteran Lou D’Ambrosio CEO and president, effective Thursday.

D’Ambrosio succeeds W. Bruce Johnson, who has served as interim CEO and president since January 2008. Get the full story »