Are There Just Too Many Retailers?
Posted on December 27th, 2011 by MoverMike
Sears to take Q4 charge. Sears (SHLD) has said it will close 100-120 Kmart and Sears stores, and will take Q4 charges of $1.6B-2.4B. Quarter-to-date comparable sales are off 5.2%. Given the disappointing performance and “the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model.”
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