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The stock price of Sears Holdings Corporation (NASDAQ:SHLD) climbed by almost 8 percent to $44.21 per share on Monday around 2:00 p.m. on reports that its chairman, Edward Lampert has boost his stake in the company.

Based on a regulatory filing on January 9, Lampert bought 332,000 additional shares of Sears Holdings Corporation (NASDAQ:SHLD), with a market value of approximately $13 million. Prior to his latest acquisition, the hedge fund manager owned around 62 percent stake in the company.

Last week, Lampert announced that he would step in as chief executive officer of Sears Holdings Corporation (NASDAQ:SHLD), starting on February this year, after Luis J. D’Ambrosio, the current CEO of the company decided to leave the company due to family health concerns. He will remain as a member of the board of directors until May to ensure a smooth transition of responsibilities.

Lampert expressed his gratitude to D’Ambrosio, and acknowledged his contributions and leadership in accelerating the transformation of the company into a more customer and member focused company. He said, D”ambrosia helped position Sears to lead in integrated retail.

In addition, the company also adjusted its earnings guidance for the fourth quarter of fiscal 2012. Sears is expects to report an EBITDA of around $365 million to $65 million. The company previously projected to post earnings of around $351 million.

The company also expected its net loss attributable to shareholders for the quarter ending February 2  will be between $280 million and $360 million, or between $2.64 and $3.40 loss per diluted share. According to the company the net loss is due to non-cash charge of approximately $450 million related to pension settlements and $42 million of pension expense.

Sears anticipated that it would report a net income of around $132 million to $212 million, or between $1.25 and $2.00 per diluted share. The company said its net debt was reduced by $400 as of December 29, 2012. It is scheduled to reports its actual earnings for the fourth quarter on February 28.