Sears Closing More Stores?


Published 05/15 2014 12:57PM

Updated 05/15 2014 01:00PM

Sears could be close to calling it quits.

That's according to business analyst, John Kernan with the Cowen Group.

Sears said this week that it may sell its 51-percent stake in Sears Canada, which operates nearly 20-percent of the company's stores worldwide.

It closed almost 100 U.S stores last year.

Kernan expects the company will soon close even more and eventually go out of business.

Next week, Sears will announce its first quarter results and possibly more store closings.

However, the company has not commented on any closures.

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