In all his aggressive postwar expansion, Sears, Roebuck & Co.'s Chairman Robert Elkington Wood has come a cropper only once. He successfully poured $305 million into new and improved stores throughout the U.S., spent another $25 million to establish Sears as Latin America's biggest retailer. But when he tried to crack the Canadian market in 1946, General Wood soon had to back out because of customs and currency restrictions. Last week, undaunted, Bob Wood bet $24 million that he could make good in Canada.
After nearly a year of negotiations, he signed a deal with Charles Luther Burton, chairman of...
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