Sears Holdings to Close 100 to 120 Kmart and Sears Stores
Posted on December 27, 2011Sears Holdings announced in a statement that it plans to close 100 to 120 Kmart and Sears stores. Chief Executive Officer Lou D'Ambrosio said the stores are part of a plan to "reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model."
Reuters reports that same-store sales at Kmart fell 4.4% during the current quarter through Dec. 25 and same-stores sales fell 6% at Sears.
Sears will publish a list of the stores that are closing on searsmedia.com when it is available.
Update: Sears Holdings has released a list of 79 Kmart and Sears stores that will be closing. This is a smaller list than anticipated. You can find the list of closing stores here on usatoday.com.
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