Sears stock jumps as it says it's exploring sale of buildings to improve liquidity

Associated Press

Sears Holdings stock skyrocketed in premarket trading after it said it's considering forming a real estate investment trust that holds about 200 to 300 of its buildings as a way to boost its liquidity.

The move would entail the sale of the stores, which the struggling retailer said would result in "substantial proceeds." The company would lease back the stores and continue to operate in them.

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Sears also says it expects third-quarter sales to dip 0.1 percent at established locations.

Sears stock rose more than 25 percent in premarket trading.

Sears Holdings Corp., which runs Sears and Kmart stores, is grappling with a slowly recovering economy that's not benefiting all Americans equally and shoppers who are taking their dollars elsewhere.