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Sears to Explore Options for Kenmore, Craftsman, DieHard Brands
May 26, 2016 — 6:17 AM EDT



CFO Schriesheim plans to leave money-losing retailer
First-quarter loss widens to $471 million, Sears says

Sears Holdings Corp., the unprofitable department-store company controlled by hedge fund manager Edward Lampert, plans to consider options for its Kenmore, Craftsman and DieHard brands as well as its Sears Home Services repair business.

The retailer reported a wider first-quarter loss after efforts to win back customers failed to boost sales. The net loss expanded to $471 million, or $4.41 a share, from $303 million, or $2.85, a year earlier, the Hoffman Estates, Illinois-based company said in a statement Thursday. Chief Financial Officer Robert Schriesheim plans to leave the company, Sears said.

“Our iconic KCD brands are beloved by the American consumer and we believe that we can realize significant growth by further expanding the presence of these brands outside of Sears and Kmart,” the company said. The home-services business also “has greater potential than what we have delivered in the past.”

more http://www.bloomberg.com/news/articles/2016-05-26/sears-to-explore-options-for-kenmore-craftsman-diehard-brands-ioo5bitv