More Bad News for Sears

Times have been tough for Sears Holdings, the company that owns Sears and Kmart retail stores. In the fourth quarter of 2011, which is the season that retailers hope to post most of their profits for the year, Sears reported a loss of $2.4 billion. As a result, the company is looking to raise money by shedding some of its assets. According to the company’s announcement, it plans to sell an additional 11 stores in 2012. In addition, it will spin off the Hometown and Outlet stores. The company also plans to reduce inventory and implement other cost-savings measures.

This is not good news for the company and its shareholders, but it could mean that you’ll want to keep a close eye on sales at your local Sears stores. It’s possible that they may have to move some of there electronics inventory at aggressive discounts in order to raise some cash, and you might be able to snag some attractive bargains.