Sears announces yet another major store closing move
Sears Holding Co. is lowering the ax — again.
The embattled retailer on Thursday told employees that it plans to shutter 103 additional stores in 2018, consisting of 64 Kmart stores and 39 Sears locations. This is in addition to the previously announced 63 Sears/Kmart locations scheduled to close at the end of this month.
The new round of closings is expected to take place between early March and April, with liquidation sales starting as early as Jan. 12.
"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size," the company said in a statement. "In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members."
The upcoming round of closures will leave the department store retailer with 875 locations. That is down from 3,510 six years ago, according to Business Insider.
The embattled retailer on Thursday told employees that it plans to shutter 103 additional stores in 2018, consisting of 64 Kmart stores and 39 Sears locations. This is in addition to the previously announced 63 Sears/Kmart locations scheduled to close at the end of this month.
The new round of closings is expected to take place between early March and April, with liquidation sales starting as early as Jan. 12.
"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size," the company said in a statement. "In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members."
The upcoming round of closures will leave the department store retailer with 875 locations. That is down from 3,510 six years ago, according to Business Insider.