Sears Holdings has lost $7.1 billion in the last four fiscal years, including $1.7 billion last year. Despite those abysmal financial figures, Sears CEO Edward Lampert remains confident that the company can transform its strategic model, largely buoyed by its Shop Your Way loyalty program.
“I’ve said many times that one of my regrets in helping steer Sears and Kmart over the last decade is that we haven’t had or generated the money to fund our transformation quickly enough,” Lampert wrote in his blog on Tuesday....