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February 13, 2017

Sears may sell land, cut jobs to save $1B

NEW YORK (AP) — Sears may sell more locations, cut more jobs and put more of its famous brands on the block in an attempt to revive the faltering retail chain.

The company, which also owns Kmart, said Friday that it is cutting costs by at least $1 billion a year. The Hoffman Estates, Illinois, retailer, which has been losing money for years, also said comparable-store sales during the holiday shopping season weren't as bad as industry analysts had believed they were.


 
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