Kmart stores may be getting smaller
According to MLive.com, Sears Holdings is also looking to sell many of its owned properties, both Kmart and Sears stores.
After posting first quarter results that showed an 11.9 percent year-over-year sales drop, Sears Holdings is looking at where stores may be too big for a single tenant, or which underperforming stores may be more suited to closing then sale.
"Our strategy is to use the real estate we occupy productively," said Howard Riefs, director of corporate communications at Sears Holdings, told MLive in an email. "To this end, we aim to generate enough profit from our operations and, if we can't do that, derive profit by using the property in other ways. "
Read more about Sears' plans by clicking here.