Sears Holdings Corporation announced that Louis J. D'Ambrosio will step down as Chief Executive Officer for family health matters at the end of the company's fiscal year on February 2, 2013. Edward S. Lampert will then assume the role of CEO of the company, in addition to his role as Chairman of the Board of Directors. Mr. D'Ambrosio will remain on the Board until the company's next annual meeting of stockholders to be held in May 2013 and will be available to assist with a smooth transition.

For the fourth quarter of fiscal 2012, the company expects adjusted EBITDA of between $365 million and $465 million as compared to $351 million last year ($254 million domestically and $97 million in Sears Canada), with domestic Adjusted EBITDA of between $325 million and $395 million. Net loss attributable to company' shareholders to be between $280 million and $360 million or between $2.64 and $3.40 loss per diluted share. Net income is expected to be between $132 million and $212 million, or between $1.25 and $2.00 per diluted share. The company expect to generate domestic EBITDA improvement for the fourth consecutive quarter, and have reduced net debt by $400 million as of December 29, 2012.

For the fiscal year 2012, the company expects adjusted EBITDA of between $560 million and $660 million as compared to $277 million last year ($176 million domestically and $101 million in Sears Canada). Net loss attributable to company' shareholders to be between $721 million and $801 million, or between $6.80 and $7.56 loss per diluted share. Net loss is expected to be between $123 million and $203 million, or between $1.16 and $1.92 loss per diluted share.