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Sears Holdings loss widens in Q2, misses Street
Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its losses for the second quarter widened more than expected to $146 million, compared with a loss of $39 million in the year-ago period.
The operator of Sears and Kmart stores cited aggressive merchandise markdowns as one reason for the poor performance. This is the second consecutive quarterly loss of the company, and its fourth in the last five quarters.
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Sears Holdings names finance chief
HOFFMAN ESTATES, Ill. — Sears Holdings announced Tuesday that Robert Schriesheim will join the company as EVP and CFO. Schriesheim, who starts with the company immediately as EVP, will assume his responsibilities as CFO effective Aug. 22.
Schriesheim, 51, most recently was CFO for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon Corp.