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Shares of Sears Holdings fell 27% Tuesday on news that the retailer would close as many as 120 poorly performing Sears and Kmart stores -- an unusually harsh response to a cost-cutting measure. Clearly, investors are concerned that the problems run much deeper -- and they're right to worry.
Sears Holdings on Tuesday reported a sharp drop in holiday sales compared to a year ago, and said the results will force it to close 100 to 120 Sears and Kmart stores. The company said the stores to be closed have yet to be identified.
When Sears and Kmart were merged into Sears Holdings by Eddie Lampert, it looked like he had a reasonable plan to reinvigorate the two battered retailers. What went wrong? Just about everything.
News flash, retailers: There's a reason that mosh pit of rock-bottom deals and rampant consumerism is called Black Friday -- it occurs on Friday. And there's good reason to keep it that way.
That's what retailers anxious to lure holiday shoppers are hoping to find out with their latest innovation: Walmart, Kmart, Sears and eBay are all testing versions of the "real" online store.
There's never a dull moment on Wall Street, especially when new tablets and old banks are in the way. Let's go over some of the items that will help shape the week ahead: The Kindle Fire, the Nook Tablet, and earnings reports from Sears, Gap, Hot Topic, Lowes Home Depot and Staples.
From Nov. 1 until Christmas, Walmart says it will match prices with its rivals retroactively. Buy now, and if anyone advertises an identical product for a better price, go back to Walmart and claim a refund for the difference. But of course there's a catch -- more than one, in fact.
Layaway became obsolete in the bubble years, an anachronism from bygone times when many consumers couldn't access credit. In today's rough economy, layaway is making a comeback for the holidays. But for investors who hold certain retail stocks, this may mean lumps of coal in their portfolios.
With Americans' budgets squeezed, more consumers will turn to layaway programs -- which allow shoppers to make payments in installments -- this gift-giving season, according to a new survey.
The nation's big retailers are betting on exclusive lines to ring up back-to-school sales, and also targeting kids and teens where they wile away the hours -- online -- with digital campaigns designed to both entertain and stoke a social-shopping experience tailor-made for the tech-savvy generation.

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