Sears May Report $200-Million Charge: Sears, Roebuck...
From Times Staff and Wire Reports
Sears May Report $200-Million Charge: Sears, Roebuck & Co. is expected to take a charge of about $200 million next week after it announces poor fourth-quarter earnings, according to a story in the Wall Street Journal. Sources said Sears Chairman Edward A. Brennan will ask the retailing giant’s board at meetings Monday and Tuesday to approve the charge to cover severance payments and other expenses associated with a continuing cost-cutting program, the newspaper said. Brennan is expected to project annual savings of at least $500 million from the measures, the newspaper said.
