`Like Eli Manning’

February 28, 2008 2:31 pm

Sears Holdings Corp., the retailer controlled by investor Edward Lampert, reported fourth-quarter profit that plunged more than analysts projected after appliance and clothing sales declined

Lampert began a letter to shareholders released today by praising the New York Giants’ upset Super Bowl win and comparing the National Football League team to Kmart, which he brought out of bankruptcy in 2003.

“Like Eli Manning, we know what it’s like to be underestimated and questioned,” Lampert wrote, referring to the Giants’ quarterback.

Sears had too much inventory last year, particularly in clothing, Lampert said in the letter.

read the rest published by Bloomberg:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a6RgpJ4CUB_8

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