I Doubt Sears Crafts a Turnaround, Man

Sears Holdings (SHLD) gained 26% on Friday, a jump that came on the heels of assurances by CEO Eddie Lampert that he will turn the company around. Lampert's plan includes cutting annual expenses by $1 billion and pension and debt expenses by $1.5 billion. This plan comes amid asset sales in a desperate attempt to raise cash and right the ship, actions that included last month's sale of the company's Craftsman tools business to Stanley Black & Decker (SWK) for $900 million.

That's just the tip of the iceberg; In December, the company announced the closing of 150 stores, consisting of 108 Kmart locations and 42 Sears locations. Frankly, judging by several visits to a New Jersey Kmart last summer, I'm surprised that any of the stores are still open....411 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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