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Sears Holdings Corp. CEO Louis J. D'Ambrosio will step down from the position for family health reasons at the end of the company's fiscal year on Feb. 2, 2013. Edward S. Lampert will then assume the role of CEO of Sears Holdings, in addition to his role as chairman of the board of directors. D'Ambrosio will remain on the board until the retailer's next annual meeting of stockholders in May 2013.
The company also announced an update on its fourth quarter-to-date performance. The company currently expects:
* Adjusted EBITDA for the fourth quarter of between $365 million and $465 million, compared to $351 million in the previous year.
* Adjusted EBITDA for the full year of between $560 million and $660 million, compared to $277 million in the previous year.
* Reported net loss attributable to shareholders for the quarter ending Feb. 2, 2013 is expected to be between $280 million and $360 million.
* Reported net loss attributable to shareholders for the full year ending Feb. 2 will be between $721 million and $801 million.
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