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>> Sears, teetering on the brink of bankruptcy, reporting on Thursday something it hasn't in nearly two years, a profit. But, there's an asterisk, the struggling retailer's quarterly boost coming mainly from its $1.2 billion cost cutting plan. Including the March sale of Flagship Craftsman tools brand to Stanley Black & Decker.
Chairman Eddie Lampert has been closing stores and divesting businesses for years to cope with falling sales and a mounting pile of debt. Sales at Sears continuing to drop in the latest quarter, more than 12% and down more than 11% at sister store Kmart. The company in March going so far as to warn it may not be able to keep its stores open.
As its largest shareholder, Lampert with a lot on the line, telling shareholders earlier this month, people will one day look back and wonder how they missed Sears' turnaround. No doubt hoping Thursday is the first small step, the stock rising on the news.