Business News

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STEVE INSKEEP, HOST:

NPR's business news starts with a sale at Sears.

Sears says it is spinning off outlet, hometown and hardware stores. The deal is expected to help the company raise up to $500 million. It's also selling some of its other properties in a separate deal.

This comes after Sears said in December it would close about 100 stores after an abysmal holiday shopping season. Transcript provided by NPR, Copyright NPR.