January 5, 2017 / 2:59 PM / 9 months ago

Sears' comparable sales slump 12-13 pct in holiday shopping season

Jan 5 (Reuters) - Struggling retailer Sears Holdings Corp said on Thursday its comparable sales for November and December fell by 12-13 percent, the latest department store operator to report disappointing sales during the holiday shopping season.

The company’s shares rose 6.1 percent, however, after its earlier announcement that it would sell its Craftsman tools business to Stanley Black & Decker Inc for $900 million.

Sears, which also announced the closure of 41 of its namesake stores and 109 Kmart stores, said it had set up a special committee to market real estate properties with the goal of raising more than $1 billion.

Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Ted Kerr

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