RENEE MONTAGNE, HOST:
NPR's business news begins with a Chicago farewell.
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MONTAGNE: Sears announced its closing its flagship store in downtown Chicago as part of an ongoing effort to cut expenses. It was once the largest retailer in Chicago. In fact, it was the namesake for the Sears Tower, the country's second tallest building.
One executive said that ever since it moved from the Sears Tower - which is now the Willis Tower - the downtown Chicago Sears has lost millions of dollars.
Sears joins other retailers announcing closures - J.C. Penney said, last week, it's closing 33 stores, Macy's is closing five. Transcript provided by NPR, Copyright NPR.