One of America’s most recognizable department stores has just announced they will be closing dozens of their locations. The closures will take place by October, they said.
“Sears, the beleaguered department store chain, says it's closing even more stores as it tries to turn around its business,” as reported by CBS News.
According to a company blog, the holding company announced they would close another eight Sears and 35 Kmart stores that are unprofitable by early October. These added closures make this more than 300 stores to shut their doors in the last year. Customers have been shocked to see a famous American store on the verge of going out of business.
"Changes in consumer behavior are driving our vision and actions," Sears Holdings Corp. CEO Eddie Lampert wrote. "This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs."
Hundreds of Sears and Kmart stores have already shut down this year as more consumers take to online shopping and other retailers. The latest closures were only a month ago. Now, they’re closing even more.
This past spring, Sears said there was "substantial doubt it could continue after years of bleeding money, though it has insisted that its actions to turn around its business should help reduce that risk.”
What do you think about this? Do you still go inside Sears or Kmart to shop?