Last Updated: February 23, 2012 02:02pm ET

Sears Announces $1B Reset Plan, Sale of 11 Stores

By Robert Carr

HOFFMAN ESTATES, IL-The troubled retailer revealed a $2.4 billion loss in Q4, and will sell 11 stores to GGP for $270 million, as well cuts and spin-offs. Investors boosted company stock by 20%.

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