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Sears Explores Partnerships for Store Brands

Including Kenmore, DieHard, Craftsman

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Sears, Roebuck & Co. (Hoffman Estates, Ill.) announced it is exploring partnership opportunities to expand some of its top brand names, such as Kenmore, DieHard and Craftsman, as a way to buoy business.

The company is considering options such as licensing, or even selling, some of these brands. It is also looking at widening distribution of its Sears Home Services (which offers home repair services).

According to USA Today, Howard Riefs, a spokesman for the retailer, said, “We believe that exploring alternatives for these businesses now is the right approach to create long term value and we believe that we can realize significant growth by further expanding the presence of these brands outside of Sears and Kmart.”

The news comes as the retailer disclosed its first-quarter results, which included a $471 million loss as compared to a $303 million quarterly loss last year.

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