It Ain't Looking Good for Sears and Kmart — jezebel.com

Sears, the hardware store at the dustiest corner of a nearly-abandoned mall that for some reason sells panties, is currently knocking on retail heaven’s door. But at least it’s got some company in the former of its corporate sister, Kmart! The New York Times takes a look at the company’s annual report, which is really more like the cover letter you’d append to your own will: In a filing with the Securities and Exchange Commission, the corporate owner, Sears Holdings Corporation, cited its efforts to cut costs, sell property, tap new funding sources and make other moves to stanch the flow of red ink. Still, it reported a $2.2 billion loss for last year and said it had to use money from its investments and financing activities to fund operations.

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