Tuesday, December 27, 2011

sears to close 100-120 stores after poor holiday sales

turnaround at sears might be too late*
sears to close 100-120 stores after poor holiday salesfrom guardian: Sears Holdings Corp plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holidays, the most crucial time of year for retailers. The closings are the latest and most visible in a long series of moves to try to fix a retailer that has struggled with falling sales and shabby stores. In an internal memo Tuesday to employees, CEO and President Lou D'Ambrosio said that the retailer had not "generated the results we were seeking during the holiday." Sears Holdings Corp said it has yet to determine which stores will close but said it will post on its website when a final list is compiled. Sears would not discuss how many, if any, jobs would be cut.

econocrash updates:
US firms see europe woes as opportunities*
the biggest ceo screwups of 2011*
obama nation: even more debt & even more store closings*
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