Monday, April 24, 2017

Sears owner has milked iconic retailer dry, analysts say

Image result for searsSears, the iconic American retailer, is now just a shell of its former self, and Wall Street retail analysts say responsibility for that can be laid at the feet of owner Eddie Lampert and his hedge fund ESL Investments.

However, Lampert — once ranked the richest person in Connecticut — may be smiling all the way to the bank, critics say. They charge that he has milked the venerable retailer dry since taking control of bankrupt Kmart in 2005 and using the retailer’s shares to help him acquire Sears, Roebuck & Co.. . . more

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