Sears clos­ing more stores

The Guardian (Charlottetown) - - BUSINESS -

Strug­gling de­part­ment store chain Sears says it’s clos­ing even more stores as it tries to turn around its busi­ness.

Sears Hold­ings Corp. CEO Ed­die Lam­pert said in a blog post Fri­day that the com­pany would close an­other eight Sears and 35 Kmart stores that are un­prof­itable by early Oc­to­ber. Hun­dreds of store clos­ings have al­ready been an­nounced this year.

Sears had said in March that there was “sub­stan­tial doubt” it could con­tinue af­ter years of bleed­ing money, though it has in­sisted that its ac­tions to turn around its busi­ness should help re­duce that risk. With more peo­ple shop­ping on­line, mall foot traf­fic has dropped.

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