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Edward Lampert, Sears to buy back $500 million of its stock

September 16, 2005 | About:
Sears Holdings Corp. may have shaken up its top management last week, but some things remain the same at the Hoffman Estates-based retailer: a predilection for buying back stock and the debate over whether the money would be better spent investing in its struggling stores.

Sears Holdings' $500 million stock buyback is one of the first initiatives announced since Chairman Edward Lampert said he would take a higher profile at the $55 billion retailer, directing its merchandising, marketing, design, online businesses and its Lands' End clothing unit.

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