LOUISVILLE, Ky. (WDRB) -- Sears is cutting costs by at least $1 billion a year.

The company, which also owns Kmart, may sell more locations and cut more jobs in an attempt to revive the faltering retail chain.

Sears is already in the process of closing 150 stores. It did not announce new store closures Friday but says it may sell real estate.

It may also sell two brands, its Kenmore washer and dryers and DieHard car batteries after striking a deal to sell popular tool brand Craftsman last month.

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