On Thursday, it was announced that Sears, currently a struggling department store chain, will close another 72 stores. Several Kmart stores, which are included in this number, will also be closed due to plummeting sales.
According to the Washington Post, this is only a further decline of what used to be one of America’s largest retailers.
Sales for the company have dropped more than 31% in the most request quarter alone. This is, of course, a very significant drop, leading to a loss of over $424 million. Year after year, sales are continuing to drop, even as store management throughout the company attempt to revamp their stores and stock better prices on partner sites such as Amazon.
At this point, however, there doesn’t seem to be anything the company can do. There appears to be little they can do to turn around their business.
The latest closures mean that many people will lose their jobs beginning in early September. People from more than a dozen Kmart locations, as well as numerous Sear stores throughout the country, will be losing their jobs.
The Washington Post estimates that only 820 stores will remain of Sears and Kmart. This is down from 2,000 locations only five years ago when hedge fund billionaire Eddie Lampert took over the iconic company as chief executive.
Although locations will be closing down, a total of 100 throughout the country are no longer turning a profit. Sears is currently monitoring the additional locations and, according to reports, they hope that they will be able to turn things around without outright closing down the stores.
Although the company is struggling, managers in these stores hope that they can remain a competitive retailer for many years to come.
Over the past several months, the company has made several announcements about changes it would be making. In particular, Sears recently announced that they would begin selling tires on Amazon.com, where it was already selling major appliances.
“This company is on life support,” said Sucharita Kodali, a retail analyst for research firm Forrester, according to the Post. “I don’t think anyone — whether a competitor, supplier or landlord — thinks otherwise. It will not be a shock to anyone when it finally does shut down.”
Here are the stores, provided by Market Watch, that are closing down in the near future.
Liquidation sales begin June 14. Here's the list of 63 stores:
Sears 10001 N Metro Parkway West Phoenix AZ
Sears 100 S Puente Hills Mall City Industry CA
Sears 7902 Citrus Park Town Center Tampa FL
Sears 320 Towne Center Circle Sanford FL
Sears 2201 Henderson Mill Road N.E. Atlanta GA
Sears 1300 Southlake Mall Morrow GA
Sears 2100 Pleasant Hill Road Duluth GA
Sears 320 W Kimberly Road Davenport IA
Sears #2 Hawthorn Center Vernon Hills IL
Sears #2 Fox Valley Center Aurora IL
Sears 6136 W Grand Avenue Gurnee IL
Sears 104 West White Oaks Mall Springfield IL
Sears 2415 Sagamore Pkwy S Lafayette IN
Sears 40 Muncie Mall Muncie IN
Sears 6020 E 82Nd Street Indianapolis IN
Sears 1781 Sw Wanamaker Road Topeka KS
Sears Alexandria Mall Alexandria LA
Sears Hwys 114 & 128 Peabody MA
Sears Eastfield Mall Springfield MA
Sears 3191 S Linden Road Flint MI
Sears 18900 Michigan Avenue Dearborn MI
Sears 14100 Lakeside Circle Sterling Heights MI
Sears 1212 S Airport Road W Traverse City MI
Sears Shingle Creek Crossing Brooklyn Ctr MN
Sears Miller Hill Mall Duluth MN
Sears 250 S County Center Way St. Louis MO
Sears #1 Chesterfield Mall Chesterfield MO
Sears 1000 Turtle Creek Drive Hattiesburg MS
Sears 1515 Grand Avenue Billings MT
Sears 2800 S Columbia Road Grand Forks ND
Sears 300 Quaker Bridge Mall Lawrenceville NJ
Sears 2341 Rt 66 Ocean NJ
Sears 2501 Mt Holly Road Burlington NJ
Sears 10000 Coors Bypass N.W. Albuquerque NM
Sears 3649 Erie Blvd E De Witt / Syracuse NY
Sears 2400 Elida Road Lima OH
Sears 17271 Southpark Center Strongsville OH
Sears 300 S Hills Village Pittsburgh / South Hills PA
Sears 1000 Robinson Center Drive Pittsburgh PA
Sears 205 W Blackstock Road Spartanburg SC
Sears 3101 N Main Street Anderson SC
Sears 3400 Empire Mall Sioux Falls SD
Sears 2931 Knoxville Center Drive Knoxville TN
Sears 2401 S Stemmons Freeway Lewisville TX
Sears 1800 Green Oaks Road Fort Worth TX
Sears 11200 Lakeline Mall Drive Cedar Park TX
Sears Golden Triangle Mall Denton TX
Sears 4502 S Steele Street Tacoma WA
Kmart 910 North China Lake Blvd Ridgecrest CA
Kmart 9881 W 58Th Avenue Arvada CO
Kmart 5400 E Busch Blvd Tampa FL
Kmart 4303 Nawiliwili Road Lihue HI
Kmart 2535 Hubbell Avenue Des Moines IA
Kmart 5909 E State Street Rockford IL
Kmart 4070 Ryan Street Lake Charles LA
Kmart 215 North Central Avenue Duluth MN
Kmart 24 34 Barbour Avenue Passaic / Clifton NJ
Kmart 2100 Carlisle Avenue Albuquerque NM
Kmart 1000 Montauk Highway West Babylon NY
Kmart 25301 Rockaway Blvd Rosedale NY
Kmart 12350 N E Sandy Blvd Portland OR
Kmart 1072 Mountain Laurel Plaza Latrobe PA
Kmart 5000 San Dario Laredo TX
Do you like Sears and Kmart? Are you sad that so many stores are closing down? Let us know what you think.
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