By and and  on January 8, 2013

Retail stocks took a beating on Wall Street today, especially Sears Holding Corp., which fell 6.4 percent after the company said chairman Edward S. Lampert would take on the role of chief executive officer.


Shares of Sears declined $2.76 to $40.16. The retailer, which includes Sears and Kmart, also said its comparable-store sales for the nine weeks ended Dec. 29 fell 1.8 percent. Ceo Lou D’Ambrosio is stepping down at the end of the fiscal year to deal with family health matters. Sears also said its fourth-quarter net losses attributable to shareholders would range from $280 million to $360 million, an improvement from $2.4 billion in net losses a year ago.

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