The Wall Street Journal reports that Sears Holdings plans to close more than 60 Sears and Kmart stores in addition to the more than 200 closures that it already had announced.
The announcement came as Sears said its Q1 sales dropped 31% from a year earlier to $2.89 billion. Sears has not had a quarter in which sales were higher than a year earlier since 2011. In addition, the Journal points out, “same-store sales fell 13% at Sears locations and by 9.5% at the company’s Kmart outlets.”
According to the story, “The company said it had identified 100 unprofitable stores overall and notified workers Thursday at 15 Kmart and 48 Sears stores that their locations would close later this year.”
The announcement came as Sears said its Q1 sales dropped 31% from a year earlier to $2.89 billion. Sears has not had a quarter in which sales were higher than a year earlier since 2011. In addition, the Journal points out, “same-store sales fell 13% at Sears locations and by 9.5% at the company’s Kmart outlets.”
According to the story, “The company said it had identified 100 unprofitable stores overall and notified workers Thursday at 15 Kmart and 48 Sears stores that their locations would close later this year.”
- KC's View:
-
So there are at least 40 more stores where employees ought to out looking for work. Have a good summer.
I’m thinking that Sears Holdings ought to change its corporate name, because it doesn’t seem able to hold onto anything. How about “Sears Slipping”? Or “Sears Dropping”?
