More than 100 Sears and Kmart stores will close in the spring

More than 100 Sears and Kmart stores will close in the spring

Sears Holdings, the management company stores Sears and Kmart yesterday, January 4, announced to his staff that this year will close more than 100 stores.

Among them, 64 39 shop Kmart and Sears stores, they all closed in the period from early March to April 2018.

More than 100 Sears and Kmart stores will close in the spring

«We will continue to close some unprofitable stores as we transform our business model,» — said in a statement.

Sears Holdings has not reported how many employees remain without work, but noted that most of the reduced worked part-time. In addition, they will receive severance pay. Sale of goods from stores that will be closed will begin on January 12.

As reported by CNBC, in late November, 2017 Sears reported a larger net loss for the third fiscal quarter than it was a year ago. Now Department stores are testing smaller store formats across the United States. In addition, the Sears company recently started selling two of its own brand, Kenmore and DieHard, on Amazon.

Over the past 12 months, shares of Sears fell more than 60%. On Thursday afternoon, after the company, they declined another 4.5%.

The reason for all this is simple — with increasing competition from online retailers, the Department stores such as Sears, Macy’s, JC Penney and Kohl, are forced to rethink their strategies.

Full list of Sears and Kmart stores that will close this year, you can see the link.

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