Sears to close unprofitable stores sooner than expected

Sears expects to accelerate the closing of unprofitable stores, including but not limited to roughly 50 stores, after a disappointing holiday season that saw same-store sales declines of 6.9% at namesake stores and 7.2% at Kmart stores. The retailer, which previously said it was exploring options including a possible sale of its Auto Center business, aims to raise $300 million through asset sales in the first half of the year. Read the The New York Times/The Associated Press story here