The CEO of Sears Holdings made a rare public appearance Wednesday, delivering a rant against the media for “deliberately unfair” coverage of the struggling retailer.
Speaking at an annual shareholders’ meeting at Sears’ Illinois headquarters, Edward Lampert presented a slideshow featuring news headlines about the company dating back to 2008, Reuters reported.
He reportedly said the doomsday media coverage has been “meant to scare our vendors.”
“It’s irresponsible and it’s been irresponsible for too damn long. We’re just looking for a fair chance,” Mr. Lampert said, Reuters reported. “Excuse my rant, but a lot of what we’re doing deserves a chance to see the light of day.”
Five journalists in attendance were not allowed to speak with Mr. Lampert, Reuters reported.
The Sears CEO of four years gave similar statements to the Chicago Tribune in an interview a day earlier.
“Clearly, we have our challenges,” he said. “Every time people use the word bankruptcy, somebody who reads that doesn’t get past that word. It makes it very unfair for us, and it’s a very uneven playing field for us.”
Mr. Lampert said there’s still hope for Sears, which hasn’t reported a profit in six years. He said the company’s vendors, lenders and shareholders just have to be patient.
“We’re trying to be proactive with our vendors, we’re trying to be proactive with our members, with our employees, associates, etc., to explain that the reality is a lot better than the perception,” he said. “The reality needs to be better than it is for us to really demonstrate to people that the transition is starting to take hold.”
• Jessica Chasmar can be reached at jchasmar@washingtontimes.com.
Please read our comment policy before commenting.