Sears maintains full-year outlook; names new credit chief
Michael J. Knell -- Furniture Today, October 7, 2002
Hoffman Estates, IL — Sears, Roebuck and Co. has reaffirmed its full-year outlook for earnings per share and announced that third quarter 2002 earnings per share are expected to be in the range of $0.80 to $0.82 vs. earnings per share of $0.80 in the same quarter last year.
The 2002 full-year outlook was confirmed for a 22 percent increase in comparable earnings per share to $5.15, although guidance was revised for its principle business segments. The company now expects comparable earnings increases in the low- to mid-30-percent range in its retail and related services segments and in the mid-single-digit-percent range in its credit and financial products segment.
In other news, the company has named Paul Liska executive vp and president, credit and financial products.
Succeeding Kevin Keleghan, who has left the company, Liska retains his responsibilities for overseeing Sears' information technology, supply chain, real estate and corporate procurement functions. Liska joined the company as executive vp and cfo in June 2001.
The company has also promoted Glenn Richter to senior vp and cfo, succeeding Liska. Richter most recently served as senior vp, finance, joining Sears in 2000 as vp, controller.
Both Liska and Richter report to Sears chairman and ceo Alan Lacy.
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