Sears to close dozens of unprofitable stores this summer
Sears Holdings Corp. shares rose in the extended session Thursday after the retailer said it would close dozens of unprofitable stores this summer. Sears shares advanced 5.5% to $19 after hours. The company said it will close 68 Kmart stores and 10 Sears stores, with nearly all the closings occuring in late July, with two of the Kmarts closing in mid-September. "The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability," said Edward Lampert, Sears chairman and chief executive, in a statement.
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