Hoffman Estates, Illinois

Sears is considering selling its Canadian operations as the retailer continues with efforts to turn around its business. Its stock rose almost 4 percent in Wednesday premarket trading. The retailer, which runs its namesake stores and Kmart locations, said that it is looking at strategic options for its 51 percent interest in Sears Canada. The Hoffman Estates, Illinois-based company said this includes the possible sale of its stake or the entirety of Sears Canada.

Sears is closing its downtown Chicago flagship outlet in April, the latest move by the retailer to cut the number of its stores as it relies more on online retailing. The store has lost "millions of dollars" since opening in 2001, a Sears spokesman said on Tuesday. The closing will leave Sears’ namesake chain without a store in the downtown core of its hometown. Sears is based in Hoffman Estates, Ill. In a blog post on Tuesday, Edward Lampert, Sears’ CEO and top shareholder, said store closings are necessary because shoppers’ habits are changing as they buy more online.