Sears CEO denies rumors that Kmart stores to close - WDRB 41 Louisville News

Sears CEO denies rumors that Kmart stores to close

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The now closed Kmart on Poplar Level Road. The now closed Kmart on Poplar Level Road.

LOUISVILLE, Ky. (WDRB) -- Sears officials say rumors that Kmart stores will close soon are untrue. 

Sears' CEO posted on its corporate blog, saying reports about Kmart's demise are "false and exaggerated." The two companies merged in 2004, and experts say the company has largely struggled ever since.

Sears' stock plunged more than 45 percent this year.

The CEO admitted there are plans to close some unprofitable Kmart stores, but says there aren't any plans to close the franchise.

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