By  on August 21, 2014

Sears Holdings Corp. is still in investment mode, with more growing pains to come.

That’s the word from chairman and chief executive officer Edward S. Lampert, who told Wall Street analysts in a conference call on second-quarter results — the company posted its ninth consecutive quarterly loss — that the company is still transforming itself from a traditional retail model to a member-centric model focused on its Shop Your Way membership program.

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