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Sears Profit Down, More Closings Planned

February 27, 2009
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Sears Holdings Corp. on Thursday announced that its fourth quarter net income dropped 55 percent, due to weak holiday sales and a write-down on one of its units. Sears also announced that it will close 24 more of its stores.

The company, which is the parent of Sears and Kmart, earned a profit of $190 million in the quarter, down from a $426 million profit the same period the year before, while same-store sales dropped 8.3 percent companywide.
 

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COMMENTS

Most Recent Comments:
kelley morales - Posted on March 30, 2009
will the sears at the imperial valley mall in el centro california be closing?