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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 CFO
Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday it has named Robert A. Schriesheim as executive VP and CFO.
Schriesheim’s position as executive VP is effective immediately, and he will begin his CFO duties on Aug. 22.
Schriesheim most recently was CFO for Hewitt Associates, leading the company's global financial and administrative roles until its merger with Aon Corp. He replaces acting CFO Bill Phelan.