Retail giant plans to close stores

The U.S. retail giant Sears plans ​​significant cost reductions. In the first half of this year, the company intends to implement the closure of 62 stores out of its 4010 units – Bloomberg wrote. According to the latest flash report of  Sears Holdings, such rapid rate of losses reported has not seen for nine years.

The company announced late last year, that in scope of a institutional reorganization plans to close 120 Kmart and Sears stores. From the stock sales, the sale and rental of businesses, the company is looking forward to achieve a revenue of  170 million USD. In the fourth quarter the stock of cash of Sears reached 747 million USD, which is 45 percent lower than a year earlier -portfolio.hu reports.