Friday, December 9, 2016

Once a middle-class mainstay, Sears is still shrinking

Image result for searsSears reported Thursday its biggest loss in more than four years and its 20th consecutive quarterly decline in sales. The retailer's third-quarter loss of $748 million continues to put pressure on the department store chain to sell its popular brands and close more stores.

Sears has been closing stores and shrinking them down. CEO Eddie Lambert said the company will continue to close unprofitable stores and reduce space in stores it's still operating.

J.C. Penney started selling appliances in the third quarter, preparing to be the place in the mall where shoppers can still buy a refrigerator or washing machine as Sears closes stores.. . . more

No comments: