By  on May 6, 2008

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. is on the hunt for big talent and big ideas to stem the slide in its profits and sales — but it doesn't expect things to get better anytime soon.

During the retailer's annual meeting here Monday, chairman Edward S. Lampert focused on the fact that the group has cut its debt and not overexpanded, unlike many fellow retailers, instead concentrating on specific problems at Sears and Kmart. While many competitors have doubled their debt to expand their footprint — adding 500 million square feet of retail space in the past five years — Sears has reduced its debt 47 percent since 2004, he contended.

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