HOFFMAN ESTATES, Ill. (AP) — Sears is considering selling its Canadian operations.
Its stock rose 5 percent in Wednesday premarket trading.
The retailer, which runs its namesake stores and Kmart locations, said that it is looking at strategic
options for its 51 percent interest in Sears Canada. The Hoffman Estates, Illinois-based company said
this includes the possible sale of its stake or the entirety of Sears Canada.
Sears Canada’s board and management plan to fully cooperate with Sears Holdings as it explores strategic
alternatives.
Sears Holdings previously sold some store leases in Canada. Its overall business has been struggling
after years of sales declines and it’s been closing some unprofitable stores.
Sears Holdings Corp. recently spun off clothing business Lands’ End as a separate public company after
not having much success with it.