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Sears Holdings to Introduce Revised Internal Management and Organizational Structure

    HOFFMAN ESTATES, Ill., Jan. 22 /PRNewswire-FirstCall/ -- Sears Holdings
Corporation (Nasdaq: SHLD) today announced that it is implementing an
organizational structure and operating model designed to simplify the way
its business lines are managed and create greater autonomy and focus for
the business unit management teams.

    The new structure is built on five types of business units that enable
each organization to focus on their core categories and capabilities:
operating businesses, support, brands, online and real estate. The
operating business units will consist of the company's current lines of
business such as home appliances, electronics, and apparel. The support
units will include the functions that provide operational and
administrative support to the operating businesses including marketing,
store operations, customer strategy and finance. The brand units will be
responsible for growing the value of Sears Holdings brand portfolio. The
real estate business unit and an online business unit will focus on
increasing the sales productivity of the company's physical and virtual
real estate.

    Each business unit will have a designated leader and an advisory group
comprised of senior Sears Holdings executives who will provide direction
and oversee the business unit's performance. The leadership of each unit
will have a separate, internal profit and loss statement to allow greater
focus on managing the profitability of the unit, and rapid decision making
to capitalize on opportunities and mitigate risks.

    "We are convinced that our businesses can operate more efficiently and
effectively and we continue to look for ways to make that happen," said
Sears Holdings Chairman Edward S. Lampert. "By creating smaller focused
teams that are clearly responsible for their units, we increase autonomy
and accountability, create greater ownership and enable faster, better
decisions. Our board of directors, our senior leadership team and I believe
this will make Sears Holdings a more responsive and competitive company in
the future."

    Mr. Lampert added: "At the time of the merger, a centrally managed
structure was essential to control costs and focus on integrating the two
companies. Now, it's time to empower individual businesses and teams to
focus on the customer experience and performance. Stronger business units
will be better able to support each other, build a stronger company, and be
more attractive to partners and talent. We are not doing this overnight;
this is a phased transition to enable our business units and their key
partners to learn how to leverage the new model."

    Forward-Looking Statements

    This press release contains forward-looking statements about our
expectations regarding the introduction of new organizational structure and
operating model. Forward-looking statements are subject to risks and
uncertainties that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by these forward-looking
statements. Such statements are based upon the current beliefs and
expectations of our management and are subject to significant risks and
uncertainties. Risks and uncertainties include the possibility that we fail
to properly implement and realize the expected benefits from the new
organizational structure and operating model, that we fail to offer
products and services that satisfy the desires of our customers, or other
factors outside the control of Sears Holdings. Actual results may differ
materially from those set forth in the forward-looking statements. We
intend the forward-looking statements to speak only as of the time made and
does not undertake to update or revise them as more information becomes
available.

    About Sears Holdings Corporation

    Sears Holdings Corporation is the nation's fourth largest broadline
retailer with over $50 billion in annual revenues and approximately 3,800
full-line and specialty retail stores in the United States and Canada.
Sears Holdings is the leading home appliance retailer as well as a leader
in tools, lawn and garden, home electronics and automotive repair and
maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard,
and a broad apparel offering, including such well-known labels as Lands'
End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington
brands. It also has Martha Stewart Everyday products, which are offered
exclusively in the U.S. by Kmart and in Canada by Sears Canada. The company
is the nation's largest provider of home services, with more than 13
million service calls made annually. For more information, visit Sears
Holdings' website at http://www.searsholdings.com.


SOURCE Sears Holdings Corporation





 

 
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CONTACT: Sears Holdings Public Relations, +1-847-286-8371