Sears also has had to make some moves to tighten its belt recently. In March, the company said its cost structure would be overhauled at the cost of jobs at its Hoffman Estates, Ill., headquarters. While exact numbers are not known, the reduced head count is expected to be finalized by the end of May.
Shares of Sears dipped 17 cents, or 0.7 percent, on the New York Stock Exchange Tuesday to close at $25.30. Over the last year, the stock has traded as high as $59.90 and as low as $18.25.