Sears Holdings Corp. says it will be closing another 63 stores as the ailing retailer tries to turn around its business.
The Hoffman Estates, Ill.-based company, struggling to keep up with its rivals, said it will shutter 45 Kmart stores and 18 Sears stores in late January.
Liquidation sales will start as early as next Thursday. Only one Minnesota store was on the list, a Kmart in Thief River Falls.
The move comes in addition to the closing of about 250 stores already announced this year.
Meanwhile, Sears launched a “holiday blowout” sale at both chains that began Wednesday and will last until Nov. 25, a day after Black Friday.
Sears has been selling off some its real estate and brands as it tries to raise cash.
EQUIFAX: STOCK SALES LEGAL
Equifax, the credit report company hacked over the summer exposing the personal information of 145 million Americans, said a special committee has determined that none of the four executives who sold shares at the time did anything wrong.
The high-level executives sold shares worth a combined $1.8 million in the days immediately after the company discovered the breach.
When Equifax went public with the breach in early September, company shares cratered, erasing about $2.35 billion of its market value.
The company revealed that an ongoing cyberattack lasted from mid-May to July. Equifax Inc. said it detected the hack on July 29.
The stock sales by Chief Financial Officer John Gamble and three other executives occurred on Aug. 1 and Aug. 2.
U.S. SERVICE SECTOR INDEX RISES
U.S. services companies in October grew at the best rate in more than a dozen years.
The Institute for Supply Management said Friday that its services index rose last month to 60.1 from 59.8 in September. Any reading above 50 signals expansion. The October reading was the biggest since August 2005. The services sector has reported growth for 94 consecutive months.
U.S. TRADE DEFICIT RISES AGAIN
The U.S. trade deficit rose in September to $43.5 billion as imports grew faster than exports.
The Commerce Department said Friday that the September trade gap in goods and services was up from $42.8 billion in August. Exports rose 1.1 percent to $196.8 billion, the highest level since December 2014. But imports rose more: up 1.2 percent to $240.3 billion.
QUALCOMM DEAL SAID IN THE WORKS
Broadcom is considering a bid of more than $100 billion for Qualcomm, according to people familiar with the matter, in what would be the biggest-ever takeover of a chipmaker.
Broadcom is speaking to advisers about the potential deal, said the people, who asked not to be identified because talks are private. The offer of about $70 a share would include cash and stock and is likely to be made in the coming days, the people said.