Monday, April 24, 2017

Sears Holdings gives update on restructuring, real estate and finances

Things aren’t getting any better at Sears Holdings, at least not sales wise — and more store closings are in the works.
 
The struggling chain on Friday provided an update on its restructuring program, which now includes plans to close 50 Auto Centers, increased its cost-saving target, and also gave a first quarter update. Since the beginning of the fiscal year, same-store sales at Sears and Kmart declined 11.9% on a combined basis, 10.8% when excluding consumer electronics, compared to the year-ago period.. . . more

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