Alan Lacy
Alan Lacy
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 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.
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,
business department moving store
We are moving away from a traditional department store business model. That has to change,
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.
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,
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 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.
actions company continue enhance focus identify overall reflect resources
Our actions reflect our heightened focus on productivity and returns. We will continue to identify opportunities to more effectively deploy resources and enhance overall company profitability of Sears off-the-mall businesses,
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.
continue driving expenses focus gross inventory levels operating profit
While revenues continue to be soft, our focus on gross margin, inventory levels and operating expenses is driving substantial profit improvement,
concerned market misleading press regarding reported
We are concerned that speculation reported in the press may be misleading the market regarding our intentions.
apparel classic emphasize home improvement strong
We'll emphasize better classic apparel while highlighting our strong appliance, electronics and home improvement merchandise,