With Sales Sliding, Sears Asserts Survival Plan

Sears Holdings Corp. has undertaken a restructuring program targeted to deliver at least $1 billion in annualized cost savings in 2017, which includes cost reductions from the previously announced closure of 108 Kmart and 42 Sears stores.

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Sears Slides In Q2

The losses continue to mount for Sears Holdings in the second quarter. The retailer also received additional financing through a loan from the investment firm controlled by its chairman.