By Tara John
Sears says it will close at least another 50 stores in response to a “challenging” holiday season.
The news follows many closings in the last few years, reports Fortune, which saw the department store shrink from 868 locations in 2011 to 708 today.
Holiday sales this past season dropped 6.9% at Sears and 7.2% at Kmart, both owned by parent company Sears Holdings.
“The holiday selling season proved to be challenging, with historically warm weather and intense competition pressuring margins and driving comparable store sales declines,” Sears wrote in a press release.
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