Retailer May Sell-Off Iconic Brands

Friday, May 27, 2016

Sears reports it may sell off three of its iconic brands – Kenmore, Craftsman, and Diehard. The struggling retailer reported a loss of 471-million dollars in the first quarter after sales fell more than 8-percent from a year ago. Sears’ Chief Financial Officer said the recent performance of Sears and K-Mart, also owned by Sears, has hampered the ability of its brands to grow. Sears also announced its CFO will be stepping down to pursue other interests. Several other brick-and-mortar retailers have struggled recently as well as they try to compete with Amazon.

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