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As Kmart and Sears, both owned by Sears, are nearing the end of Q4, data shows that revenue continues to decrease. <a href="http://money.cnn.com/2016/12/08/news/companies/sears-kmart-store-closings/index.html?iid=hp-stack-dom&utm_source=1851franchise.com&utm_medium=article&utm_campaign=cnn-money-sears-and-kmart-store-closings-and-losses-mount-8364" target="_blank" rel="nofollow" target="_blank">According to CNN Money</a>, both stores are planning on ramping up store closings in the new year, though the company wouldn&rsquo;t disclose how many stores will be closed.

While both chain stores had 4,000 locations open in 2011, they are now down to 1,500 stores between them. 2016, in particular, was a major year of closings, with 140 Kmart store closings and 30 Sears closings.

&quot;We will continue to accelerate the closing of underperforming stores,&rdquo; chief financial officer Jason Hollar told CNN. &quot;We do not intend to borrow money to fund continued operating losses.&quot; Instead, the company is looking for ways to raise money and sell off real estate, while also looking for potential buys and/or partners for some of the company&rsquo;s more established brands. &nbsp;

<a href="http://money.cnn.com/2016/12/08/news/companies/sears-kmart-store-closings/index.html?iid=hp-stack-dom&utm_source=1851franchise.com&utm_medium=article&utm_campaign=cnn-money-sears-and-kmart-store-closings-and-losses-mount-8364" target="_blank" rel="nofollow" target="_blank">Click here</a> to read the full article.

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CNN Money: Sears and Kmart Store Closings and Losses Mount

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These major chain stores continue to see declines in sales as they round out 2016. 

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CNN Money: Sears and Kmart Store Closings and Losses Mount

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