Posted on 04/21/2016 4:07:42 PM PDT by Olog-hai
Sears Holdings Corp. will close another 78 stores — 68 Kmart units, and 10 Sears stores — as it looks to restore profitability.
That accounts for about 5 percent of its store base, which is nearly 1,700 stores.
The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday.
All 10 Sears stores and nearly all the Kmart stores will close in late July. Two Kmart stores will close in mid-September. …
(Excerpt) Read more at hosted.ap.org ...
That’s the official list from Sears Holdings, dated today.
It may not include store that were already in the pipeline to close. These are all set for July except for a couple of SuperKs in September. The Sears liquidation sales start April 29; KMart May 12.
http://searsholdings.com/press-releases/pr/1963
Those Sears catalogs were a doozy. I remember the lingerie section, in the 70s.
Fwiw, they just remodeled the Sears store here in Virginia Beach, took months and I’m sure millions to do so.
I actually like the Kmart near us and prefer it to Walmart. I canusually park right by the front door and get in and out with what I need. Sure can’t do that with a Walmart.
Of course I don’t buy much at either store so......lol
Where I live, there are 3 WalMarts within 7 miles from me and a Menards next door to one of them. 2 Home Depots within 3 miles, one Lowe's less than a mile, two major malls (Lakeside and Partridge Creek) within 2 miles away and all sorts of other merchants such a Target, Sam's Club and Costco within 3 miles.......
Sears and Roebuck used to be the go to store for tools, appliances, and home improvement. Even the old Sears catalog was a bible of sort for corporate and government procurement bids. I am surprised Sears has not totally gone under in the electronic age.
Several of those Walmart Express Groceries are in my area.
They were only open about 5 years or so, as test stores. Apparently, they failed the test.
Walmart isn’t exactly inexpensive on their grocery prices. Aldi’s usually has better prices on milk, eggs, meats, fresh veggies and fruit.
Given their operational expertise with catalog sales, it’s actually more surprising that they didn’t capitalize upon internet sales, which are in most ways the same as with a catalog. One’s electronic, one’s ink on paper, but the rest of the process is practically identical. Major lack of foresight, there.
Your photo got you the lower price? I’m going to Photoshop myself a new BMW for $299.
I’ve often wondered where Sears would be today if they’d continued their Big Book catalog business. If they had, they could have been one of the first large retailers to move right onto the internet with a large customer base already in place.
Googling I find that they just ended it in 1993, only a few years before the internet really took off. Very bad timing. Thought it was longer ago than that.
Green shoots!/s
Still though, hate seeing all these businesses going out.
It makes me really sad too. I grew up with all the great "All-in-One" stores. Here in Kansas City, we had Sears, JC Penney's, Monkey Wards, Macy's Dillards, Venture, K-Mart, and so on... Sears was always my favorite. I would spend an entire day there. I remember when they sold stereos, TVs, computers, lawn mowers, but my favorite was wandering through the tool department. Craftsman tools were the best, and even into the 90s, they were still really terrific tools.
When I turned 18, I got my first credit card - a Sears card - and bought some tools for my first car.
Mark
Mark
You know, I forgot about that. When I first bought my house, the first trip I made was to Sears for a washer, dryer, microwave, and lawn mower. 22 years later I sold that house, and all those appliances were still working just fine.
Mark
It is a lot like walking into a Social Security office.
NEXT!!
The one company that had all the capacity in the world to be the AMAZON. Catalog, shipping, warehousing... what in the freak did they do ??? Nothing... They are the Block buster of retail...
Pretty much drove me away. The only thing I go for are filters for my shop vac and a few tools. I did get some maternity clothes there last year but every time it just gets worse
78 stores left to close... who’d have thunk that?
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