Sears Holdings, who is the parent company of Sears and Kmart, announced that they lost $56 million dollars in their first quarter. In addition, the average Kmart store has seen a decline in sales of around 9%. In order to realign business, experts predict that Sears Holdings CEO, Eddie Lampert, will announce major Kmart store closings. If that doesn’t help, Lampert may have to choose to shut down the entire Kmart brand all together.
