Some thoughts from Sears’ Lampert

Sears Holdings Corp. Chairman Edward Lampert seldom talks publicly about the company that owns Kmart and Sears stores. Twice a year — at a spring shareholder meeting and once in a letter to investors — he provides his thoughts on the business and other topics. Here are some of the opinions he expressed to investors in his letter Thursday.

NEW CEO: Lou (D’Ambrosio) knows what it is like to be the 800-pound gorilla from his days at IBM, and he knows what it is like to compete against 800-pound gorillas from his days at Avaya.

ON SEARS: Sears is much more susceptible to the macro-economic environment than Kmart. But I don’t accept this as an excuse: Our results at Sears in 2010 were completely unacceptable.

KMART: The Kmart business has become more responsive to our customers’ needs, both by offering more products customers want and by providing them with more ways in which to purchase them.

ONLINE: The investments we have made in our online properties will continue. By integrating our vast store network with our world-class online properties, we believe that Sears Holdings will be a winner in the rapidly evolving retail environment.

JOBS: At Sears Holdings, we are creating many new job descriptions for jobs that didn’t even exist two years ago, as the changing landscape of technology in retail is reshaping our organization and the type of work we need performed every day.

SHAREHOLDER VALUE: Despite our challenging performance over the past several years, the difficult economic environment, and the dramatically changing retail environment, we have generated very attractive returns for shareholders since May 2003, when we assisted Kmart in its emergence from bankruptcy. Others in our industry have grown their revenues since that time, some have grown their profits, but many have been unable to deliver shareholder performance in the past eight years.

via Glance: Some thoughts from Sears’ Lampert – BusinessWeek.