Sears has been on a downward spiral almost since the day it merged with Kmart in 2005. And that plunge seems to be picking up speed.
The company announced this week that it may sell its 51% stake in Sears Canada, which operates nearly 20% of the company's stores worldwide.
It has quietly closed nearly 100 U.S. stores in the last year. Next week, it's expected to announce dismal fiscal first quarter results and possibly yet more store closings.
"The lights are going off at Sears and Kmart,"
"There are tumbleweeds blowing through the parking lots at Kmart. They're basically completely irrelevant."
The company won't comment on store closings, but CEO Edward Lampert reportedly told shareholders at this month's annual meeting that...
"closing stores are going to be part of our future. The world has shifted."
A company spokesman did not dispute that quote.
Sears will continue to close stores and hopefully get their act together to restore what can possibly be left of the Sears name families of a better time grew up knowing for years to come.
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