After challenging holiday, Sears to speed up store closings
- 8 years ago
Sears keeps pruning its business in a years-long makeover, a bid to transform itself from a 123-year-old retail store into a nimble, 21st century operator.
Patience appears to be wearing thin.
Shares slid early Tuesday to 13-year lows after the company said it would accelerate the closure of some of its stores following a "challenging" holiday season.
The company's stock is down 20 percent this year, and they've been cut in half in the past 12 months.
"The holiday selling season proved to be challenging, with historically warm weather and intense competition pressuring margins and driving comparable store-sales declines," the company said in a printed statement Tuesday.
Patience appears to be wearing thin.
Shares slid early Tuesday to 13-year lows after the company said it would accelerate the closure of some of its stores following a "challenging" holiday season.
The company's stock is down 20 percent this year, and they've been cut in half in the past 12 months.
"The holiday selling season proved to be challenging, with historically warm weather and intense competition pressuring margins and driving comparable store-sales declines," the company said in a printed statement Tuesday.