Does Edward Lampert have a strategy for Sears Holdings Corp.?
If he does, few people appear to know about it, and analysts are growing increasingly impatient. Even as Sears Holdings last week revealed plans to create five types of business units to simplify its operations, analysts remained puzzled and at least one credit analyst reiterated that Sears' retail strategy remains cloudy and slapped the company with a downgrade to its ratings outlook. This follows a report earlier this month from Goldman Sachs analyst Adrianne Shapira that downgraded Sears Holdings to "sell" from "neutral." Shapira said she expects "the retailer to experience accelerated share loss and profit pressures in an increasingly tough macro backdrop."
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"