-
Sears Holdings closing 78 more stores
Sears Holdings announced its latest round of store closings as it continues to look for ways to cut expenses and return to profitability after five years of losses.
The embattled retailer, which has been steadily shrinking its physical portfolio over the last few years, will close 68 Kmart and 10 Sears stores this summer. (See list of locations at end of story.) In February, Sears warned it would speed up the closing of unprofitable stores.
-
Wal-Mart shaking up, shrinking its board
Wal-Mart Stores on Thursday announced changes to its board of director of directors that it said were designed to make to make it more nimble and able to respond quicker to today’s fast-changing market.
As part of the changes, four current board members — Aida Alvarez, Roger Corbett, Mike Duke and Jim Walton — will retire and not stand for re-election. In addition, the retailer is shrinking its board by three members to 12, a move that brings it more in line with the size of most U.S. corporation boards.
