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Edward Lampert: Sears in Strong Financial Shape

April 15, 2006

Sears Holdings Corp. Chairman Edward Lampert assured shareholders Wednesday that the company is very strong financially despite sagging sales and is working hard to improve its Kmart and Sears, Roebuck & Co. stores. Just more than a year after the combination of the two slumping retailers, Lampert was upbeat about the stores' prospects at the company's annual meeting but did not provide a blueprint for what he envisions for the long-lagging brands. "In terms of vision, flexibility and adaptability is what it's all about," he said during two hours of fielding questions from the approximately 100 shareholders who attended the meeting at company headquarters.

"It's always an option, but it's never been the reason for the merger or something we intended to do," he told reporters in a rare, half-hour news conference after the meeting.


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