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Sears to sell most of Sears Canada stake as it looks to boost liquidity
Hoffman Estates, Ill. – Sears Holdings Corp. is selling most of its 51% stake in its Sears Canada division to shareholders as its looks to boost its liquidity before the crucial holiday selling season. Sears, which previously said it was exploring options for the struggling Sears Canada unit and retained Bank of America Merrill Lynch in May 2014, expects to raise as much as $380 million by November 2014.
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LVMH names Carolina Herrera president as CEO of Donna Karan International
Paris -- LVMH announced the appointment of Caroline Brown as CEO of Donna Karan International, effective Jan. 15. She currently serves as president of Carolina Herrera.
Brown will replace Mark Weber, the incumbent CEO of Donna Karan International, who is becoming a consultant for LVMH.