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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (13590)	3/28/2008 10:40:04 AM
From: Peter V	Read Replies (1) \| Respond to of 19257

Surprise, somebody took my 2.50 bid for the SHLD Apr 95 puts, I thought it had run away from me. kinda pissed I didn't pull the trigger at 2.00 though.

To: Smiling Bob who wrote (13590)	5/6/2008 11:34:50 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 19257

SHLD- down to 95.19 UPDATE: Sears Chairman: Trying To Build Customer Experience Monday 05/05/2008 4:38 PM ET - Dow Jones News Related Companies Symbol Last %Chg SHLD 95.57 -4.51% As of 11:32 AM ET 5/6/08 HOFFMAN ESTATES, Ill. (AP)--The chairman of Sears Holdings Corp. (SHLD) went on the defensive Monday, saying the troubled retailer's conservative approach to spending money will help it weather the nation's rocky economic outlook. Financier Edward Lampert told investors that Sears' competitors have overextended themselves through a rash of store openings and debt acquisition. "We do feel that, because we're not building a lot of new stores, that we can do a better job with the assets we have in place," he said during the company's annual shareholder meeting at its headquarters in suburban Chicago. "...Our focus is on upgrading the customer experience and being ready when the economic environment turns." The Hoffman Estates-based retailer is in the midst of a high-stakes restructuring aimed at reconnecting with customers and reinvigorating slumping same-store sales, which have fallen for the past eight consecutive quarters. But investors and a growing chorus of critics have chided Sears for failing to use its once-hefty war chest to reinvigorate its tired stores or launch a major acquisition. Instead, most of the company's cash has been used to pay down debt and buy back stock. At end of the fiscal year, Sears said it had about $1.6 billion in cash on hand - far less than the $3.8 billion it had last year. But Lampert called the company's strategy a sound, long-term investment, while acknowledging that 2007 was a year of poor performance for the company. Last year "set us back," he said. "Our strategy is designed to ensure we have enough financial strength to weather whatever economic situation comes our way." Sears is also searching for a new chief executive, after the company ousted Aylwin B. Lewis earlier this year. Lampert said the CEO search was progressing, but offered no timetable for a permanent replacement. "We're interviewing candidates and will continue until we find the person that we think is the right type of person to lead the company going forward," he said. "Could happen quickly? Yes. Might it take a while? Yes. It's really a question of trying to find a right fit." Lampert, who acquired Kmart in 2003 and Sears, Roebuck and Co. in 2005, acknowledged Sears still faces many challenges ahead, but said the company is setting its sights on improving shoppers' experiences - from the time they begin considering a purchase until after items are installed in a home - and adapting to new customer behavior, much of which includes the Internet. "We want to be an intensely customer-focused company, and these are two companies that have been product- and store-focused for a very long, long time," he said. That sentiment is important, said Kim Picciola, an analyst at research company Morningstar Inc., who said she expects to see the company beef up its online operations. But Sears faces an even more difficult burden by trying to recover its fortunes at a time when the economy - and retailers in particular - are being hard-hit by slower consumer spending. "I think it gets back to being relevant to the customer and having the right products at the right prices," she said. "It's a challenging environment and it's going to take some time for them to show some progress." Also Monday, Lampert dismissed speculation that Sears would put some of its popular brands - household names such as Kenmore, Craftsman, and DieHard - in the stores of its competitors. Instead, he said that was just one of many options the company was considering as it realigns its business into five types of units. "The distribution strategy is not unimportant, but no one should read that like tomorrow, we're going to be putting that in another retailer," he said. Sears shares closed Monday at $100.08, down $3.14, or 3%. (END) Dow Jones Newswires 05-05-08 1638ET Copyright (c) 2008 Dow Jones & Company, Inc