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Eddie Lampert to remain CEO of Sears for annual salary of $1
New York -- Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported. Sears announced in January that Lampert would take over as CEO after Louis J. D'Ambrosio stepped down due to family health issues.
Lampert’s new contract is effective Feb. 1, according to a regulatory filing yesterday. Lampert also has the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.
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DSW Q4 sales up 15.7%, expects weaker 2013
COLUMBUS, Ohio — DSW reported that its fourth quarter sales increased 15.7% to $594.3 million from $513.7 million for the same period last year. Comparable sales increased 3.6%.
The company reported that fourth quarter adjusted EPS rose to 69 cents per share, an increase of 35.3% per share.
Full year sales increased 11.5% to $2.3 billion, and comparable sales increase 5.5%.
Adjusted EPS for the year rose to $3.35 per share for the full year, up from $3.00 per share in 2011.