-
Sears completes sale of 11 properties to General Growth
Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.
Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.
Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.
-
Sears Canada CEO reviews turnaround at annual meeting
Toronto -- Sears Canada chief Calvin McDonald told attendees of the retailer’s annual meeting in Toronto on Tuesday that the focus will be on its strongest categories to more quickly effect a turnaround.
Hard goods such as appliances and tools will be a major focus in the company’s three-year turnaround plan, said McDonald. Sears Canada is majority-owned by Sears Holdings Corp.