Sears Holdings Names David Lukes to Real Estate Leadership Position

Real Estate Development Expert, Proven Senior Executive

HOFFMAN ESTATES, Ill., March 20, 2012 /PRNewswire/ -- Sears Holdings (NASDAQ: SHLD) announced today that David Lukes has joined the company in its real estate business unit as president, real estate development. Mr. Lukes comes to Sears Holdings from Mall Properties, Inc. where he served as president and CEO of the privately owned $3 billion real estate firm. 

In this new role, Mr. Lukes will lead the company's effort to  further develop certain of its real estate assets, including those real estate assets that are no longer in use as retail stores.  Jeff Stollenwerck, president of the company's real estate business unit, will continue in that role and oversee the traditional corporate real estate functions for Sears Holdings.

"We have a very strong real estate team at Sears Holdings and that team will only be stronger with the addition of an executive of David's caliber," said Lou D'Ambrosio, Sears Holdings' chief executive officer and president.  "Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs.  David's hiring allows us to expand our capabilities to include the enhancement and re-development of appropriate properties."

Commenting on his appointment, Mr. Lukes said, "Sears Holdings has one of the most diverse and valuable real estate portfolios in the country and I look forward to helping create additional value for the company by enhancing and repositioning selected parts of its real estate portfolio."

Prior to Mall Properties, Mr. Lukes served as chief operating officer and executive vice president, Kimco Realty Corporation from 2002 to 2010.  There he was responsible for the financial results of Kimco's large U.S. and Puerto Rico shopping center portfolios.  He started his career in 1994 at the New York-based architectural firm Kohn Pedersen Fox Architects PC, where he was responsible for the management of design and technical departments of the full-service international architectural firm.

Mr. Lukes has a master's degree in real estate development from Columbia University and a master's degree in architecture from the University of Pennsylvania.  He received his bachelor's degree from Miami (Ohio) University.

About Sears Holdings Corporation

Sears Holdings Corporation is a leading broadline retailer with over 4,000 full-line and specialty retail stores in the United States and Canada.  Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance.  Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year.  Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands.  It also has the Country Living collection, which is offered by Sears and Kmart.  We are the nation's largest provider of home services, with more than 11 million service calls made annually.  Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.  For more information, visit Sears Holdings' website at Twitter: @searsholdings | Facebook:


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