A first quarter loss and plunging sales have forced Sears Holdings Corp. (Nasdaq: SHLD) to announce the closure of more stores. Sears says they've identified 100 unprofitable stores, and plan to close 72 of them.
The Illinois-based company lost $424 million in its first quarter, and revenue dipped more than 30 percent. The company had posted a $245 million profit in last year's first quarter, due to the sale of Craftsman. Chief Executive Officer Edward Lambert called this "a challenging quarter."
It is not yet known if any Indiana locations will be shuttered during this round of closings, but some Indiana locations were closed in January. More information on those closings can be found here. For a full list of other Sears closures, click here.
By Karen Valencic Founder and President, Spiral Impact
"Problems cannot be solved by the level of thinking that created them," is attributed to Einstein over 75 years ago. This still holds true, particularly in challenging communications. Many people address conflict at the level it was created by rehashing and building more evidence for their ‘side’ of an argument. Repeating a position tends to intensify the separation of people.
An Indiana University alumnus who founded the information technology firm, ServiceNow, has given his alma mater $60 million to establish an artificial intelligence center. The university says the gift from cloud-computing pioneer Fred Luddy is the second largest in the history of the IU.
South Dakota-based POET LLC, the nation’s largest biofuels producer, is moving forward with a plan to shut down its biorefining plant in Cloverdale, leaving 50 Hoosiers without jobs effective Friday. The company tells Inside INdiana Business that it is not making any changes to the plans announced two months ago.
Indy Reads Books has hired Chrissy Vasquez (pictured) as chief development officer to oversee marketing, development and the store. Also, Adam Ramsey (pictured) has been named manager of engagement, specializing in story telling through video and social media. Vasquez previously served as executive director and vice president of operations for Back on My Feet.
The Indiana Department of Transportation has scheduled three public meetings for next week to update the community on the I-69 Section 6 road project. Section 6 is an approximately $1.5 billion new interstate project stretching from Martinsville to I-465 in Indianapolis.
After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM). Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.