Sears Plans to Close Almost 80 Stores in Bid for Profitability
- Move will shutter about 5 percent of company's locations
- Sears posted a $580 million loss in last reported quarter
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Sears Holdings Corp., the struggling retailer run by hedge fund investor Eddie Lampert, will shut almost 80 stores as part of a push to make the company profitable again.
The closings will include 68 Kmarts and 10 Sears stores, the Hoffman Estates, Illinois-based company said in a statement Thursday. Most of the stores will be shuttered in late July, with two Kmarts closing in mid-September. The move will eliminate about 5 percent of the company’s locations.