UPDATE 4-Sears says CEO to step down in early February

Mon Jan 7, 2013 11:52pm EST
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* Decision influenced by family illness - source

* D'Ambrosio steps down after two years at the helm

* Quarter-to-date same-store sales down 1.8 percent

* Kmart same-store sales down 3.8 percent

* Chief merchandising officer Boire seen as next CEO-analyst

By Dhanya Skariachan and Sakthi Prasad

Jan 8 (Reuters) - Sears Holdings Corp said late on Monday Chief Executive Louis D'Ambrosio will step down for family health reasons after the U.S. retailer reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.

Edward Lampert will assume the role of Sears CEO in addition to his current role as chairman, Sears said in a statement late on Monday. Lampert's hedge fund, ESL Investments, had a 34.14 percent stake in Sears Holdings as of Nov. 30, according to Thomson Reuters data.

A person close to the situation told Reuters that D'Ambrosio's decision was influenced by a close family member's medical situation.   Continued...