Sozzi Says Sears Holdings Corp. REIT Won't Save It From Competitors

Sears Holdings Corp.'s

effort to raise $2.5 billion by setting up a real estate investment trust won't ensure its ultimate survival, according to a commentator. "The long-term outlook for Sears and Kmart remains far from certain thanks to transformative initiatives under way at some of its top rivals," Brian Sozzi wrote in a column for James Cramer's TheStreet Inc.

. Sozzi, who has been pointing to Sears' weaknesses in his columns and commentary for more than a year, offered a long list of retailers in sectors including apparel, electronics and food that he said are outspending Sears on competitive measures to bolster sales. Sozzi recounted Sears' plan, announced Wednesday, to launch a shareholder rights plan to buy shares in a real estate investment trust that was first discussed by Sears in November. Sears' Chief Executive Edward S. Lampert, who holds a 48 percent stake in the company, and Fairholm Capital Management, which holds a 24 percent stake, said they will both subscribe to the offering, which is intended to raise $2.5 billion. Sears closed Thursday at $41.28, down $0.05 cents. Sozzi is a frequent on-air guest on the Bloomberg, Fox Business Network, and CNBC television networks as well as a columnist for TheStreet.com and Men's Health Magazine. Sozzi is also Chief Executive and Chief Equities Strategist at Belus Capital Advisors.