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Sears’ woes mount; exploring options for key brands
As Sears Holdings Corp. continues to struggle to turn its business around, the chain announced it is exploring ways to expand distribution of its key brands outside its own stores. The troubled retailer also announced its CFO is leaving.
Sears lost $471 million in its first quarter, ended April 30, compared with $303 million in the year-ago period. Loss per share came to $4.41, or $1.86 adjusted for certain items. Analysts estimated a loss of $3.20 per share.
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Ikea doubling down in Ohio
Ikea has broken ground for its second store in Ohio.
The new Ikea will open in summer 2017. The 355,000-sq.-ft. store is being built on 33 acres at the northeastern corner of Interstate-71 and Gemini Place in the Polaris Centers of Commerce development, approximately 15 miles north of downtown Columbus.
The retailer has contracted with Pepper Construction to build the project. The chain also will evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.

