These Are The 103 Stores That Sears Announced It Will Be Closing

To loosely paraphrase Trump, "Amazon is winning so much, it must be sick and tired of winning."

Just hours after Macy's announced  it would lay off another 5,000 workers and shutter an additional 7 stores as part of its operational overhaul, bringing the total number of stores shut since 2015 to 124 as Amazon slowly but surely wins the game, Sears Holdings, the parent company of Sears and Kmart stores, announced on Thursday that it will be closing an additional 100 stores this year.

The breakdown consists of 64 Kmart stores and 39 Sears stores, all of which are expected to shut between early March and April, with the company explaining the move as follows: "we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members."

The good news - if only for shoppers - is that like in Macy's case, liquidation sales will begin as early as Jan. 12 at the closing stores.

Unlike Macy's, however, Sears did not say how many employees would be terminated as a result of the closings but did say the majority of the jobs lost, certainly in the thousands, will be part-time positions, while eligible associates will receive severance according to CNBC.

Exactly one year ago, Sears disclosed the full extent of its financial dire straits when it unveiled plans to pay down over $400 million toward its pension obligation, which would be funded through the sale of 140 properties. Since then, the company has been chronically shutting down most of its less profitable outlets.  Since then, the department store chain has been testing smaller store formats across the U.S., and in some cases moving to occupy a small portion of a bigger box, as mall operators redevelop their properties.

As CNBC reported, on a recent call with analysts and investors, Sears CFO Rob Riecker said the retailer would be building on those new concepts in the coming months, "delivering specialized integrated retail experiences" to customers. Sears also recently started selling two of its brands, Kenmore and DieHard, on Amazon.com.

At the end of November, Sears reported a narrower - if still gaping - net loss for its fiscal third quarter than it did a year ago, as the company pushes to return to profitability against a backdrop of vendor disputes and loans coming due.

However, in an indication that Sears financial woes are not relenting, on the last day of 2017 we learned that the embattled retailer bought few national TV ads during the 2017 year-end holiday season.

The corporate parent of Sears and KMart chain ran just a few national TV spots in November, mainly remnant inventory from older ad campaigns, and none at all since, according to data provided Sunday by iSpot.tv, an advertising measurement company.

In contrast, retail competitors Walmart, Target, JC Penney, Macy's, Kohl's and others collectively purchased dozens of TV ads between Sept. 1 and Dec. 30, the data showed. Macy's alone bought 146 spots, according to the data.

Sears, Kmart joined their retail competitors with heavy TV advertising campaigns during December 2016, the also data showed.

While some speculated that the advertising shift may signal that the Illinois-based company is focusing more attention on selling via online and social media marketing as U.S. consumers increasingly do their shopping via the Internet, others suggested that this is just another confirmation of the company's ongoing cash squeeze.

While it is unclear just how much longer the Sears ice cube can continue melting, it is all too obvious that with growing competition from online players, mostly Amazon, and with more brands choosing to sell through their own platforms, department stores including Sears, Macy's, J.C. Penney and Kohl's have been forced to rethink their strategies: what inventory they will carry and how they will get it to shoppers.

And, in the case of Sears, which stores to close.

Speaking of which, here is the full list of stores  that Sears/Kmart just announced it will be liquidating and leaving to gather cobwebs, while local malls scramble unsuccessfully to fill the vacant boxes while lease cash flows trickle to a halt.

 

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Comments

mkkby Whoa Dammit Fri, 01/05/2018 - 04:45 Permalink

Sears practically invented catalog sales, yet they never figured out the internet.  How the fuck is anyone that stupid?

Went to the only sears around recently for a vacuum cleaner part.  The place is a tiny showroom.  Everything has to be ordered off the internet.  So they have no local stock and they charged me shipping for an overpriced plastic part that probably costs 50 cents to make.

Hope they go out of business.  Nothing in the store.  You have to order online anyway.

In reply to by Whoa Dammit

chubbar 2banana Thu, 01/04/2018 - 20:31 Permalink

I think it was a year ago or so that ZH had an article on retail square footage per person in the US. It was a multiple of the rest of the world, and this was before or right around the time the amazon model was starting to pick up steam, IIRC. Anyway, this was as fucking clear as the nose on your face. If the retards running these stores couldn't see it then it's because they are completely fucking blind. Really, it wasn't that hard to see. Secondly, as many of us here can attest, a lot of the malls are now taken over by the dindus. I don't know about you, but I just don't have a hankering to go down to the mall to fight off a bunch of thieving assholes that would rather shoot you, rape your wife and child, as to give you the time of day. Fuck that. Everyone knows this it true. It's just the libtarded, white guilt ridden asshole that refuse to acknowledge this situation. Regardless, unless the mall owners take back control and rid these areas of these assholes, they will shortly go out of business and I say good riddance.

In reply to by 2banana

2banana Thu, 01/04/2018 - 19:03 Permalink

So what and how is Amazon winning?

Razor thin margins

Massive debt

A P/E ratio that makes no sense

Massive subsidies from the US Post Office

Massive tax evasion

 

I Write Code Thu, 01/04/2018 - 19:05 Permalink

Assuming they own the land, I cannot believe the Santa Monica location is still there and not being closed.  Even though the adjacent mall is doing horribly, a block of land not two blocks from the pier, must be the most valuable holding in the company.  And the store cannot have made a profit in the last twenty years.

Cabreado Thu, 01/04/2018 - 19:09 Permalink

I started "admonishing" people to stop giving Amazon any business at all a couple+ years ago... but Sears cannot fall back on that excuse -- upper mgmt/BOD destroyed Sears long before Amz came into serious play.

Now it's just a pathetic charade, and a handful who helped destroy it will be fine when it finally dies.

Dragon HAwk Thu, 01/04/2018 - 19:16 Permalink

Remember when somebody was going to sue  Sears saying they were a bank, because they got most of their earnings from carried balances on their in house card? good times, guess that bank failed.

besnook Thu, 01/04/2018 - 19:25 Permalink

lampert's management of sears is the poster child of wrong bets on the real estate bubble. what made it worse is he had a chance to fix it and he bombed so bad he set himself up to rebuy the company when it goes bankrupt so he can try to salvage the billions he pissed away so far. talk about catching a falling knife.

Mazzy Thu, 01/04/2018 - 19:28 Permalink

I figured the local-ish one would be closing.  There is little foot traffic to that whole plaza except for the big-box gym.  Those seem to be thriving these days, and one of them might as well be today's anchor store at a local mall.

A K-Mart 20 minutes drive farther north closed last year and the building has sat vacant since, even the shitty-service Pep Boys next door closed up, and I suspect that that whole plaza will die a slow death since only the Chick-Fil-A gets any traffic. People seem to like those and they seem to be thriving too.

 

Ar15ak47rpg7 Thu, 01/04/2018 - 19:33 Permalink

The era of Sears & Kmart is finished. It would be best for everyone if they bankrupted the organization ...paid off their debt and called it a good run. I honestly cannot remember the last time I walked into either a Sears or a Kmart. Sometimes it’s just best for everyone to close it down and call it a good run. 

Sudden Debt Thu, 01/04/2018 - 19:37 Permalink

IT'S CALLED CAPITALISME WHERE COMPANIES THAT DON'T MAKE A PROFIT GO BANKRUPT!!

in the end all the zombies die because they can't take care of their own.