The company expects its plan to spin off 235 Sears and Kmart stores into a real estate investment trust to be approved by the Securities and Exchange Commission this week, paving the way for a rights offering to sell shares in the REIT to existing shareholders on Friday. Sears said some of the decline was expected as it shrinks operations.
Sears reports smaller first-quarter loss but sales keep sliding source: http://finance.yahoo.com/news/sears-reports-smaller-first-quarter-132824254.html
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