Sears Holdings Corp. on Thursday posted a staggering fourth-quarter loss of $2.4 billion — and chairman Edward S. Lampert made a $629.7 million profit in one day as the retailer’s shares soared.
Even as Sears struggled under the huge quarterly loss — and a sea of red ink in 2011 that totaled $3.14 billion, further stirring speculation as to whether it can survive — the retailer’s shares shot up 18.7 percent to close at $61.80 in over-the-counter trading. Investors focused on Sears’ turnaround plans, which include a spin-off of the Sears Hometown and Outlet businesses to raise between $400 million and $500 million, as well as the sale of 11 store sites to General Growth Properties for $270 million.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)