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Registered: ‎03-09-2010

More than 100 Sears and Kmart stores to close

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.



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we have not had either store in our area in years!

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Re: More than 100 Sears and Kmart stores to close

I had no idea Sears owned Primark. I didn't know Primark was in the USA.

It's always a victory for me when I remember why I entered a room.
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Re: More than 100 Sears and Kmart stores to close

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.

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Re: More than 100 Sears and Kmart stores to close

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."

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Re: More than 100 Sears and Kmart stores to close

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!
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Re: More than 100 Sears and Kmart stores to close

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.

It's always a victory for me when I remember why I entered a room.
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Re: More than 100 Sears and Kmart stores to close

I dont go into Sears often but when I do there is barely anyone in there. When I am walking the mall, which is pretty rare theses days, I will pop in there. They really need to revamp their clothing offers, it is just unappealing to me. I do have a Kmart in my area, only one though. I will be interested to see if it closes. Its great for quick things when you need them because it is close to me. I would hate to see it close even though I dont go often. It is kinda sad to see old stores not doing well.
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Re: More than 100 Sears and Kmart stores to close

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)

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Re: More than 100 Sears and Kmart stores to close

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."

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Re: More than 100 Sears and Kmart stores to close

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.