Check out the resignation of Sears Holdings Corp chief executive Aylwin Lewis,  the latest in a shake-up for the U.S. retailer, which warned earlier this month that its fourth-quarter results would be much less than those from a year ago.

Despite its management moves, the company might also still be interested in a deal with Restoration Hardward Inc.

Sears Holdings, which is controlled by hedge fund manager Edward Lampert, was formed with the 2005 merger of Kmart and Sears. It has struggled to entice customers and is now being hurt by an economic slowdown that has hurt sales of home goods such as appliances and tools. 

Last week the company said it would separate into five types of business units and simplify the way it’s managed in a bid to boost results and reverse recent profit declines.

“We will be redefining how our leaders operate by giving them greater autonomy and accountability for their businesses,” Sears chairman Edward Lampert said on Monday.

Sales at stores open at least a year — a key retail measure known as same-store sales — have fallen at Kmart and Sears for the last seven quarters.

 Also in the basket:

McDonald’s net up, but same-store sales flat

Tyson’s earnings tumble

Is it a recession? Marketers seem to think so (New York Times)

Makeover at Old Navy: Faster Fashions key to monthly collections (Women’s Wear Daily, subscription required)

Wendy’s says strategic review in final stages

U.S. antitrust officials seen swallowing beer deal