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Sears Q2 loss widens, more store closings on tap
Hoffman Estates, Ill. -- Sears Holdings Corp. on Thursday reported a bigger-than-expected loss in its second quarter – the retailer’s ninth consecutive quarterly loss – amid weak sales. The retailer also announced it may close additional stores on top of the 130 closures already underway this year.
Sears also said Thursday the company plans to explore options with lenders to achieve more long-term capital-structure flexibility in the coming six to 12 months.
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Nielsen study: Retailers ramp up back-to-school ad spend
New York -- A new Nielsen survey found that nearly 20% of consumers have already started their back-to-school shopping, and 75% plan to start within the next few weeks.
More parents are starting their shopping earlier than in the past, as 18% of survey respondents had already started their back to school shopping as compared to 7% at the same time last year. On the flip side, 15% are choosing to wait longer, while 50% do not plan to do any back to school shopping this year.