"He is the ideal leader and agent of change for Kmart at this time, and we are pleased that he has embraced this challenge with his characteristic passion," says Edward S. Lampert, the company's chairman, in a statement.
Lewis was promoted to his former position last January. He also served as COO of Pizza Hut restaurants, which is a Yum!-owned chain. Besides Pizza Hut, Lewis has also held positions at the Jack in the Box and KFC chains.
Kmart emerged from Chapter 11 bankruptcy protection early last year. At the time the company also closed 326 stores across the country. The locally based retailer now has about 1,500 units in 49 states, Puerto Rico and the Virgin Islands.
Sears, Roebuck & Co. acquired 50 Kmarts for $575.9 million late last month, which the retailer will convert to Sears stores by next year's fourth quarter. Those units are in Florida, the Northeast, San Diego and Puerto Rico. The companies initially announced that deal in June. Kmart is also selling between 13 and 19 units to The Home Depot for up to $288.5 million.
Kmart's same-store sales were down 14.9% during its last financial quarter, though the company did post a net income of $155 million over the period. It currently has marketing partnerships with E! Entertainment and the WB Network promoting its fall products.
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