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November 22, 2004

All Business -- Kmart-Sears' combo still faces big hurdles

  • After some real estate sales, it will come down to the business of running stores, which neither has been adept at doing.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Two struggling retailers with dismal sales merge, and how do investors react? They send the stocks of both companies soaring.

    With the surprise announcement that Kmart Holding Corp. was buying Sears, Roebuck & Co., in an $11 billion deal, it seems investors are focused on how the combined company will parcel off its valuable real estate.


     
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