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Quick takes

Freeman

RECEIVES AWARD: Alicia Freeman, an account executive at Wheelhouse Creative, has received an Achievements in Excellence Award from the Akron/Canton Affiliate of National Sales & Marketing Executives. Freeman accepted the award during a ceremony held at the Tangier in Akron.

“I’m very humbled to have received such an award. It’s an honor to be in a class with so many great marketing and sales professionals. I am blessed to have received such an honor and to have so much support from my family, friends and co-workers. I thank God every day,” she said.

Winners of the award have demonstrated the highest levels of professionalism in diverse sales and marketing roles. Their selections are based on nominations from local professionals, questionnaire responses provided by the nominees and publicly available information. Criteria include community and civic involvement, professional experience and demonstrated performance.

“Alicia brings a wealth of experience to her role as an account executive. I am proud of her accomplishments and that professionals in the marketing/public relations field acknowledge her talent by nominating her for this award,” said Jamie Bordas, president of Wheelhouse, which has offices in Wheeling and Pittsburgh.

SEARS LOSES MORE: Sears, stung by higher charges, reported a wider fourth-quarter loss, but its adjusted loss was smaller than last year and investors were elated as the department store closely controlled inventory and expenses.

For the period ended Jan. 28, the Hoffman Estates, Ill., company, which also owns Kmart, lost $607 million, or $5.67 per share. That compares with a loss of $580 million, or $5.44 per share, a year ago.

Impairment charges climbed to $409 million, from $203 million.

Losses, adjusted for one-time gains and costs, were $1.28 per share, or 42 cents better than last year on a per-share basis.

Revenue declined to $6.05 billion from $7.3 billion.

Sales at Sears and Kmart stores open at least a year, a key indicator of a retailer’s health, dropped 10.3 percent.

Sears same-store sales slid 12.3 percent, mostly hurt by falling sales of appliances, clothing, consumer electronics and tools. At Kmart stores, comparable-store sales fell 8 percent, mostly because of softer sales of consumer electronics, toys, clothing and grocery and household items.

The company’s merchandise inventories shrunk to $4 billion, from $5.2 billion a year earlier. Total costs and expenses declined to $6.77 billion, from $7.84 billion.

Bankruptcy Shack: Troubled electronics retailer RadioShack has filed for bankruptcy for the second time in just over two years.

The Fort Worth, Texas-based retailer filed its petition in bankruptcy court in Delaware on Wednesday.

The company says it’s closing about 200 stores and evaluating options on the remaining 1,300.

In a statement, RadioShack President and Chief Executive Officer Dene Rogers said since the company’s bankruptcy filing in 2015, the retailer had made progress in stabilizing operations, including reducing operating expenses by 23 percent.

But Rogers says several reasons, including a partnership with wireless carrier Sprint that proved not to be as profitable as expected, prompted the latest bankruptcy filing.

General Wireless, part of hedge fund Standard General, acquired the RadioShack trademark and many of its stores after its 2015 bankruptcy.

RadioShack was founded in 1921. Long known as the place to find batteries and obscure electronic parts, in recent years the company tried to remake itself as a specialist in wireless devices and accessories.

From staff and wire reports

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