Sears CEO sees improvement as sales take nose dive
Sears CEO Eddie Lampert has the holiday spirit when it comes to how his retail brand is doing as the busiest season of the year takes off.
Despite decreasing sales, Lampert views Sears' current state as improving despite losing more than $550 million in the last quarter, according to a New York Post report.
Sears released financial data Thursday and reported that comparable sales dropped by 17 percent.
"The improvement is reflective of the success of the strategic priorities we outlined earlier this year," Lampert said in a statement, according to the Post report.
Net loss was $558 million in the third quarter.
But not everyone is as optimistic as Lampert. The report noted one analyst describing Sears as a “dying business.”
Topics: Financial News