Report: Sears prepares for challenging future

HOFFMAN ESTATES, Ill. Sears Holdings chairman Edward Lampert reportedly said his company is preparing itself to face further economic challenges.

Lampert said that despite his company's recent difficulties, such as reporting a near 50% drop in its 4Q net income, it is reducing its own debt and trying not overextend itself.

Lampert added that Sears is targeting its efforts on improving the shopping experience for its customers.