Lou D Ambrosio

Lou D'Ambrosio, chief executive officer of Sears Holdings Corp., said creatively combining technology with spending on stores is the best way to turn around the largest U.S. department store chain.

On Dec. 27, Sears announced it was closing as many as 120 locations after same-store sales slipped 5.2 percent in the eight weeks ended Dec. 25. The shares plunged 27 percent on the news, the biggest drop since April 29, 2003. Sears fell 3.4 percent in New York on Dec. 30 to $31.78.

Bell’O International said this week that it has received a Partners in Progress award from the Sears Holdings Corp., as Sears recognized Bell'O as a top supplier partner.

Sears' parent company announced Wednesday that it has named Lou D'Ambrosio its new CEO. D'Ambrosio was the former CEO of Avaya Inc.

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