Sears Chairman Buys Stake in Home Depot

Greenwich, Conn., Edward Lampert, chairman of Sears Holdings Corp., has acquired 16.7 million shares of The Home Depot through RBS Partners LP, a fund he controls, according to a SEC filing.

Home Depot reported third-quarter consolidated net earnings of $1.1 billion compared with $1.5 billion in the same period in fiscal 2006.

The company reported that sales for the third quarter totaled $19 billion, a 3.5% decrease from the third quarter of the year before.