RETAILING
<i> Times Staff and Wire Reports</i>
Kmart to Close 7 Stores: The struggling Troy, Mich.-based discount retailer said the stores fell short of profit requirements. The closings will happen at the end of January and result in the loss of 649 jobs. The stores are in Colton, Lompoc, Madera, San Jose and Turlock, Calif., and in Grand Haven, Mich., and Greensburg, Pa. Kmart reported its 11th straight quarter of disappointing earnings on Thursday, with a third-quarter loss of $69 million.
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