Sears (SHLD) Crushed on Falling Sales

Shares of Sears (NASDAQ:SHLD) are getting clobbered today as sales plunged and earnings dropped to $933 million in adjusted fourth-quarter earnings before interest, taxes, depreciation, and amortization.

After selling off inventory, and/or selling or subleasing store space, the company expects to earn from $140-$170 million.

The failing retailer also announced its going to close from 100 to 120 Kmart of Sears stores.

Same-store sales at the stores in the fourth quarter plummeted by 6 percent for Sears stores in the United States, and 4.4 percent at its Kmart outlets.

Sears was trading at $36.53, plunging $9.32, or 20.33 percent, as of 10:10 AM EST.