More Sears, Kmart stores to close

SearsFailing US discount department store operator Sears started the year announcing it would shutter 150 stores.

Now it has added another 30 to the list – 18 trading under the Kmart banner and 12 under the Sears brand.

The stores are scattered all over the US, from California to Florida, and are expected to be shuttered by the end of July.

Sears – which has lost money since 2010, peaking at $2.2 billion last year – has about 1400 stores left, so the closures already confirmed this year amount to more than 10 percent of its network..

“At the beginning of the year we said we would continue to strategically and aggressively evaluate our store space and productivity, and accelerate the closing of some unprofitable stores,” Sears Holdings spokesman Howard Riefs said in a statement.

This story first appeared on sister site Inside Retail Asia.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

 

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

How have private-label products impacted your business?
Vote

Twitter

The shock @LiberalAus victory over the weekend could be good news for Australia's retail industry #retail #auspol https://t.co/qFvHayoF2Q

6 days ago

A new initiative, announced by @google at #CopenhagenFashionSummit,will help to understand the environmental impact… https://t.co/VmLrRHHp3p

1 week ago

Rising competition and crude oil prices have impacted @CaltexAustralia net profits in the first quarter of 2019… https://t.co/OE4VaIIReR

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered