Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
10-24-2014 09:10 AM
Struggling retail giant Sears Holdings Corp. will lay off at least 5,457 employees and close more than 100 Sears and Kmart stores, many before Christmas, an online report revealed Thursday.
Sears Holdings Corp (SHLD.O) is shuttering more than 100 stores and laying off at least 5,457 employees, investor website Seeking Alpha reported on Thursday, indicating the struggling retailer may be stepping up store closures.
Sears said in August it had closed 96 stores in the six months since February and planned to close a total of 130 underperforming stores during the full fiscal year. It added at the time that it may shutter additional stores beyond the 130 target.
Sears spokesman Chris Brathwaite declined to comment on the number of planned closures, saying the company would provide an update when it reports quarterly earnings next month. Reducing operations to the best performing stores is key to Sears' revival strategy, he said.
Since August the company has moved to close at least 46 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers, Seeking Alpha said, citing local media reports and liquidation notices.
Sears is closing stores to cut costs as it shifts to an "asset-light" business model. The company lost nearly $1 billion during the first half of the fiscal year in a downturn that has worried some vendors and prompted a series of moves by the company to generate cash.
It also said on Monday that it would lease seven stores to discount fashion chain Primark for an undisclosed amount, reflecting its effort to use generate rental income from better performing retailers.
------------
we have not had either store in our area in years!
10-24-2014 09:24 AM
I had no idea Sears owned Primark. I didn't know Primark was in the USA.
10-24-2014 10:22 AM
I haven't set foot in a Sears since 2002 & I haven't set foot in a Kmart in at least 5 years, probably longer. I stopped shopping at Kmart when they started limiting their double coupon purchases on double coupon days.
10-24-2014 10:24 AM
On 10/24/2014 adelle38 said:I had no idea Sears owned Primark. I didn't know Primark was in the USA.
It doesn't say that Sears owns Primark, it says that they will " lease seven stores to discount fashion chain Primark for an undisclosed amount, reflecting its effort to use generate rental income from better performing retailers."
10-24-2014 10:37 AM
10-24-2014 10:39 AM
On 10/24/2014 sgraham30 said:On 10/24/2014 adelle38 said:I had no idea Sears owned Primark. I didn't know Primark was in the USA.
It doesn't say that Sears owns Primark, it says that they will "lease seven stores to discount fashion chain Primark for an undisclosed amount, reflecting its effort to use generate rental income from better performing retailers."
OK. I had morning brain blur. Primark is a great store.
10-24-2014 10:46 AM
10-24-2014 10:48 AM
On 10/24/2014 violann said: Our local KMart is closing, and I already miss it terribly. I think Sears has gone sour in our house because of our kitchen stove. It is about ten years old and the parts are no longer made. Phooey!
Have you tried to get the part from Whirlpool? Sears Kenmore used to be made by Whirlpool (maybe still are, I don't know)
10-24-2014 10:54 AM
On 10/24/2014 violann said: Our local KMart is closing, and I already miss it terribly. I think Sears has gone sour in our house because of our kitchen stove. It is about ten years old and the parts are no longer made. Phooey!
Call a Sears Parts store. I know they have a call center that deals in all parts, even for very old appliances. (I worked there for a while years ago).
"We've got millions of parts for top brands and models. No matter where you bought it,
Sears PartsDirect has the right parts for that next replacement or repair."
10-24-2014 11:39 AM
We have Sears Hardware, K-Mart and Sears in my area still. No Sears store has closed around me.
DH buys a lot of Craftsman tools and our Samsung washer/dryer were purchased from Sears a couple of years ago and our refrigerator is a Kenmore Elite from Sears. Otherwise, I don't go in the store.
I very, very infrequently shop at Super K-Mart. The groceries are expensive and I'd never purchase meet from there.
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2024 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788