Alan Lacy
Alan Lacy
apparel businesses core difficult economic lawn pleased sales shown signs tools
We are pleased that sales in core businesses such as lawn and garden, tools and apparel have shown signs of strengthening, especially considering the difficult economic environment,
bit business cosmetics department emphasis example exit less market model process spend
We probably are going to become a little bit less of a department store, with less emphasis on apparel, ... I think the exit from cosmetics is an example of this. We are very much in the process of reworking our business model and how we go to market and how we spend money.
business department moving store
We are moving away from a traditional department store business model. That has to change,
broad business clear cosmetics financial fits improving longer objectives performance stores strategic work
As work on improving the performance of full-line stores progresses, it has become clear that a broad cosmetics business no longer fits with our financial and strategic objectives for Sears full-line stores,
business change company confidence constitute credit departure kevin left lost performance personal related request
Kevin left the company at my request because I lost confidence in his personal credibility, ... His departure is not related to business performance and does not constitute a change in credit strategy.
business credit growth ongoing operating pleased portfolio quality strong
Our credit business contributed very strong growth in operating income, ... We are pleased with the quality of our credit portfolio and our ongoing productivity improvements.
business change clearly cutting everybody focus slowing
Clearly business is slowing down. Everybody is cutting back a bit, but our focus has been to structurally change how we do business because how we do business is not working,
business determine environment faces factor principal prospects retail value
On a stand-alone basis, Sears Canada's retail business faces an increasingly competitive retail environment in Canada, and the principal factor that will determine the value of this business is the prospects for its retail operations.
business continues format great hold indoors
The Great Indoors is a viable, important format that has always resonated with customers. The business continues to hold great promise.
break consumers good minds pricing terms value
We think in terms of pricing and assortment we have very good offerings, ... But we have not been able to break through consumers minds in terms of value perception.
bad clearly economy gone took tragedies worse
An economy that was clearly bad has gone to worse after those (Sept. 11) tragedies took place,
believe continued extending fair full offer opportunity provide represents tender
We are extending our offer to provide shareholders with a continued opportunity to tender to our $16.86 offer, which we believe represents a full and fair price.
closer customers gives good grow locations opportunity problem products service
Sears has had a very different problem from Kmart, ... Our service and products are as good as our competitors but they're not where our customers are. This now gives us the opportunity to grow off-mall locations closer to the customer.
challenges coast critical difficult environment face height holiday iraq knew port quarter reached toughest war west
We knew that this would be our toughest quarter as we reached the height of our reposition efforts, ... This is a difficult environment with the possibility of war with Iraq and the West coast port lockout challenges we face in the critical holiday season.