Sears Holdings Soars After Touting Turnaround Plan

Shares of Sears Holdings (NASDAQ: SHLD) surged on Friday after the struggling retailer revealed a turnaround plan that it forecasts could generate $1 billion in annualized cost savings this year. The stock was up more than 27% in early afternoon trading, but even after that big pop, Sears stock remains down more than 50% over the past 12 months and 85% over the past five years — mainly due to its non-existent top-line growth and the fading presence of its Sears and Kmart stores. …read more

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