Distressed retailer Sears (NASDAQOTH:SHLDQ) has announced that it's closing its flagship store in Chicago. According to management, the decision to close the store was made because it had been losing millions of dollars since it opened in 2001. The news comes only a few weeks after the company announced that it's cutting 7% of its workforce.
In this segment of the Motley Fool's consumer goods show, Consumer Countdown, CG analysts Michael Finarelli and Sean O'Reilly join host Mark Reeth to discuss if the value for Sears lies in the retail sector, or if it is simply a property play now.
Mark Reeth has no position in any stocks mentioned. Michael Finarelli has no position in any stocks mentioned. Sean O'Reilly has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.