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Empresas y finanzas

Sears to close up to 120 stores


    (Reuters) - Retailer Sears Holdings Corp said it plans to close 100-120 Kmart and Sears Full-line stores and expects its adjusted fourth-quarter EBITDA to more than halve from a year ago.

    The company reported $933 million in adjusted earnings before interest, taxes, depreciation, and amortization last year.

    The retailer, home to brands including Craftsman tools and Kenmore appliances, also expects to record a non-cash charge of $1.6-$1.8 billion in the quarter related to a valuation allowance on certain deferred tax assets.

    (Reporting by Supantha Mukherjee in Bangalore; Editing by Anil D'Silva)