Sears and Kmart to Close Some Stores This Spring

Sears Holdings (SHLD) plans to close eight Sears stores and 13 Kmart stores in April and May, laying off hundreds of employees in the process.

Kimberly Freely, a spokeswoman for Sears Holdings, says the affected stores are located across the country and employ about 60 employees each. Many of the closings involve lease renewals, "but obviously performance is a factor," she says. "This is the normal course of business," Freely says. "We always evaluate our store portfolio."