RETAILING
<i> Times Staff and Wire Reports</i>
Kmart to Sell OfficeMax Stake: The discount retailer said the sale of its 25% stake could generate about $350 million. OfficeMax Inc. also plans to sell additional shares, raising $47.2 million to $106.4 million, based on its latest stock price. The Cleveland-based office products retailer said it will use the money to speed up expansion and store renovations. It plans to add 80 OfficeMax stores next year, plus as many as 65 FurnitureMax locations and 65 CopyMax sites. OfficeMax went public in November, as Troy, Mich.-based Kmart Corp. reduced its stake from 90% to 25%.
