NEW YORK (TheStreet) -- Shares of Sears Holdings (SHLD) are lower by 2.65% to $25.71 after the company announced the CEO of Sears Canada, Douglas Campbell, has resigned after only one year running the company's struggling Canadian unit, the Wall Street Journal reports.
Sears Canada said Campbell is stepping down as CEO in order to return to the U.S. and "tend to personal family issues," the Journal added.
Campbell's decision to leave Sears Canada comes as Sears Holding is considering selling its 51% stake in the business, which has been struggling to compete in the Canadian retail market.
Earlier this week, Sears' failed attempt to find acceptable bidders on its Sears Canada business caused the stock to drop. Sears stock fell last week following a negative analyst note from Credit Suisse (CS) that suggested the company should liquidate its assets.
Separately, TheStreet Ratings team rates SEARS HOLDINGS CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate SEARS HOLDINGS CORP (SHLD) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, poor profit margins and weak operating cash flow."