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Sears to close 50+ specialty stores in first half of 2012
Hoffman Estates, Ill. -- Sears Holdings Corp. revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.
The information came from the retailer’s annual report, filed late Wednesday, and is consistent with previously announced plans to close up to 120 underperforming Sears and Kmart stores and all nine of its remaining Great Indoors stores.
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New York & Co. swings to loss in Q4, hones focus on outlet business
Los Angeles -- New York & Co. reported Thursday a loss of $10.9 million in the fourth quarter, compared with net income of $14.9 million a year earlier.
Sales dropped to $271.8 million, from $303.2 million in the same quarter last year, missing Wall Street’s expected $275 million in revenue. Same-store sales fell 6.3%.
Looking ahead, the retailer said it expects to open 11 outlet locations and one full-price store in the first quarter of 2012, as well as