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Sears to sell, spin off stores after $2.4-billion quarterly loss
Sears to sell, spin off stores after $2.4-billion quarterly loss

Sears Holdings Corp. posted a $2.4-billion loss in its fourth quarter but appeased investors by planning to sell or spin off many of its stores to boost liquidity. The Hoffman Estates, Ill., company reported a loss of $22.63 per share in the quarter that ended Jan. 28, from $374 million, or $3.43 a share, in the same quarter a year earlier -- results that Chief Executive Lou D’Ambrosio deemed “unacceptable.”  The company operates Kmart and Sears stores. But on Thursday, the company announced plans that could raise nearly $800 million. In one arrangement worth up to $500 million, Sears said it would separate its Hometown and Outlet brands, as well as some...

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