Recent high-level departures at Sears may suggest impending doom

In the last week, Sears has lost Jeff Balagna, an executive vice president, and Joelle Maher, the company's President and Chief Member Officer. Mark Cohen, director of retail studies at Columbia Business School and the former CEO of Sears Canada, believes the departures are portentous of "catastrophic" news that will be revealed in the company's third-quarter earnings report set to be released this Thursday.