Sears to sell Coralville, Council Bluffs stores
February 23rd, 2012 by Ric Hanson
DES MOINES, Iowa (AP) – Sears says it will sell 11 stores in nine states including stores in Coralville and Council Bluffs. The stores will be sold to mall operator General Growth Properties, which owns the malls in which the stores are located. The deals will close within the next two months. Sears will continue to operate the stores into 2013. Final closing dates will be announced later this year. The Coralville store is at the Coral Ridge Mall and the Council Bluffs store is in Mall of the Bluffs.
Sears posted a fourth-quarter loss on Thursday. Its revenue fell 4 percent as demand in categories like appliances and consumer electronics fell. The store sales are part of a plan to raise cash to help offset poor performance.