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Sears lowers the ax again
Sears Holdings continues to shrink its traditional store portfolio even as it plans to open more smaller, specialty stores. The embattled retailer on Friday announced that it will close 43 more locations -- eight Sears stores and 35 Kmart locations -- by early October. This is on top of the 265 store closings that it has already announced for this year. -
Another retailer is entering the hotel arena
Muji, the Tokyo-based global retailer, will open its largest store to date — underneath its very own hotel. The company will open a hotel in in Tokyo's Ginza district in spring 2019. The hotel will be located in a new, 10-story building that will also house a 35,000-sq.-ft. Muji flagship. The store will occupy one basement floor up to part of the sixth floor above ground, with the rest of the space above devoted to the hotel, according to the Nikkei Asian Review.
