Macy's is planning 5,000 job cuts, including closure of seven previously unidentified stores and other cuts at remaining locations, as it seeks stability in a tumultuous climate for physical retail.

The retailer's cost reductions come after its holiday sales in stores open at least a year rose 1.1%.

Although the company described its holiday sales as "solid," the performance trailed fellow department-store chain J.C. Penney, which posted a 3.4% increase Thursday.

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Sears Holdings, the parent company of Sears and Kmart stores, told its employees on Thursday that it will be closing more than 100 more stores.

That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to close between early March and April of this year.

"We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members," the company said in a statement.

Sears wouldn't say how many of its employees would be impacted by the closings but did say the majority of the jobs are part-time positions, and eligible associates will receive severance.

Liquidation sales will begin as early as Jan. 12 at the closing stores, Sears said.

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