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HomeNewsBreaking NewsSEARS-TARGET CLOSING OVER 100 STORES-MANY TO LOSE JOBS

SEARS-TARGET CLOSING OVER 100 STORES-MANY TO LOSE JOBS

Sears Holdings Corp. plans to close between 100 and 120 Sears and Kmart stores to raise cash after a weak holiday shopping season for the retailer.

The closings fueled speculation about whether the 125-year-old retailer can turn itself around.

The closings are the latest and most visible in a long series of moves to try to fix a company that has struggled with falling sales and shabby stores as rivals like Wal-Mart Stores Inc. and Target Corp. spruced up their looks and turned into one-stop shopping sources.

Billionaire investor Edward Lampert purchased Kmart out of bankruptcy in 2003 and bought Sears, Roebuck & Co. a year later. Since 2004 Sears Holdings – which operates both Kmart and Sears stores – has watched its cash and short-term investments go from about $2.09 billion for the year ended Jan. 31, 2004 to $1.34 billion for the year ended Jan. 31, 2011, according to FactSet. The figure now stands at about $700 million.

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One of the hardest working women in the Entertainment business today! From Music Video Producer to Script Writer to Author to Personal Life Coaching to now Senior Editor Entertainment and New Artist for The Heat, this girls got game! If it's worth working on, she's on it! Talented, Intelligent, and Sexy, yeah, you get it all in her! You got a story to tell, she has an ear to listen and the skills to put the pen to paper! "I see your lips moving but ain't nothing coming out! Shut-up and start walking, talking gets you know where". Wanna get your skills and talent seen by the world, holla at cha'girl at cnikdace@theheatmag.com or nik.theheatmag@gmail.com
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