Struggling retailer Sears Holdings Corp (SHLD.O) will lay off at least 5,457 employees and close over 100 stores, many before Christmas, according to a Seeking Alpha report citing liquidation notices and employees.
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Best Buy Co Inc (BBY.N), the largest U.S. specialty retailer of consumer electronics, reported lower-than-expected quarterly revenue for the third straight quarter, citing a drop in traffic in its stores as more people shop online.
Sotheby's said it would cut an unspecified number of jobs to cut cost, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board.
