Sears closing 43 stores

Sears closing 43 stores

The chain's parent company, which operates both Sears and Kmart brands, has already announced 265 closings this fiscal year.

July 10, 2017
Fortune Magazine
Industry News Retail News

From Fortune Magazine:

Sears Holdings (SHLD, -1.89%) on Friday announced a new round of store closings, this one involving 43 locations. The company framed the move as a strategic decision, one that will aid in its hoped-for return to profitability.

The retailer, which operates the Sears department stores and Kmart discount chain, has already announced 265 closings this fiscal year. The latest paring of the fleet will leave the company with 1,140 stores, barely more than half the number of stores it operated in 2012. In this latest round of shutterings, 35 Kmart stores and eight Sears stores will close.

That's likely not the last of it, either. In a blog post, company CEO Eddie Lampert said more closings are coming.

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