Eddie Lampert, Chairman of Sears and hedge fund king, has asked for Wall Street to think of him as the underestimated comeback quarterback of the Giants. So is Eddie Lampert the Eli Manning of retail?
Thursday, he told shareholders that they shouldn't count Sears out. The game is still on despite the fact that the discounter has capitulated marketshare to Wal-Mart and Target . And despite the fact that net income dropped 47 percent in the fourth quarter to $426 million dollars,down from $811 million last year. And despite the fact that same store sales dropped every quarter during which he has been Chairman.
At the end of this fourth quarter, earnings were $3.04 a share--six cents below the Street's consensus.