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HOFFMAN ESTATES, IL-Sears Holdings Corp. hashired David Lukes, former president and CEO of NewYork City-based Mall Properties Inc., as presidentof its real estate development division. The company, which hasannounced closings of more than 120 locations in the past fewmonths, said it brought on Lukes to help reposition its more than4,000 stores.
Sears has been going through damage control through the entirewinter, as the locally based retailer reported a $2.4 billion lossfor the fourth quarter. The firm said in December that it will shutmore than 120 of its Sears and Kmart stores, andin February announced the sale of 11 locations to GeneralGrowth Properties for $270 million.
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