63 Sears and Kmart stores Closing by January – 2 in Arizona

Sears Holdings Corp (SHLD.O) said it will close 63 additional stores in the United States after the holiday season as part of its continued effort to return to profitability in a difficult retail environment.

The announcement, made to employees on Thursday and available on the company’s website, follows news last month that Whirlpool Corp would stop supplying some big name-brand appliances to Sears, and a fresh cash infusion from Chief Executive Edward Lampert.

Then on Friday, the company announced that by the end of January, 45 more Kmart and 18 more Sears stores would be closed. In addition to the sale pricing announced two days earlier, the company plans to begin liquidation sales as early as November 9 at the stores that will be closing.

Two in Arizona, the Kmart at 1214 E Florence Blvd. in Casas Grande and the Sears store at Fiesta Mall in Mesa, Arizona.

Sears noted that all the stores tagged for closure will remain open through the holiday season. Of the 18 Sears store closures, there are 15 Sears Auto Centers located at the stores that will be closed in December.

Here’s a full list of the 63 stares that will be closing.

The move will reduce the number of locations operated by Sears, once the largest U.S. department store chain, to around 1,000, from 2,019 stores in 2012.

Liquidation sales at the closing stores will begin as early as Nov. 9, Sears said.

Shares in Sears, which have lost 54 percent over the past year, ended 4.8 percent lower on Friday at $5.17 on Friday.

 

 




Sears Announces more store closures, JC Penney delays closures

Sears Holdings is closing 43 more stores in the US, in addition to the 265 closings that had already been announced this year. The company announced the latest closures on Friday.

The new list of closures include 35 Kmart stores and eight Sears stores, two of which are in Arizona.

The closings will bring Sears’ store count to less than 1,140, down from 2,073 five years ago.

“This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs,” Sears CEO Eddie Lampert said in a blog post on the closures.

Sears announced its first round of store closures in January. Three more rounds have been announced since then.

J.C. Penney is delaying plans to close 138 stores because sales are up since the retailer announced that it was shutting them down.

USA Today reports that liquidation sales at those locations have been postponed until May 22 and store closures have been pushed back six weeks to July 31.

Read more: Liquidation sales underway at these 138 J.C. Penney locations

Here’s the full list of Kmart and Sears closures announced Friday:

Kmart

  • 104 Highway 31 North Athens AL
  • 635 Skyland Blvd Tuscaloosa AL
  • 3340 E Andy Devine Ave Kingman AZ
  • 2526 W Northern Avenue Phoenix AZ
  • 4325 Broadway Eureka CA
  • 7200 Arlington Avenue Riverside CA
  • 12412 U S 19 Hudson FL
  • 4717 South Florida Avenue Lakeland FL
  • 20505 South Dixie Hwy Miami FL
  • 8245 N Florida Ave Tampa FL
  • 2500 Airport Thruway Columbus GA
  • 1300 S Madison Avenue Douglas GA
  • W-201 Neider Road Coeur D’Alene ID
  • 2828 N Broadway Anderson IN
  • 2520 Nicholasville Road Lexington KY
  • 2760 Frederica Street Owensboro KY
  • 140 Whalon Street Fitchburg MA
  • 1277 Liberty Street Springfield MA
  • 801 N Lincoln Road Escanaba MI
  • 1290 N Monroe Street Monroe MI
  • 1515 W Bell Street Glendive MT
  • 1000 3Rd Street Nw Great Falls MT
  • 2975 E Sahara Blvd Las Vegas NV
  • 200 S Washington St Herkimer NY
  • 601 Woodman Dr Dayton OH
  • 12501 Rockside Rd Garfield Heights OH
  • 1801 W Alexis Road Toledo OH
  • 501 S E Washington Blvd Bartlesville OK
  • 2323-2327 N Harrison Shawnee OK
  • 4401 Buffalo Road Erie PA
  • 2011 Hoffmeyer Road Florence SC
  • 732 Old Hickory Blvd Jackson TN
  • 4670 S 900 East Salt Lake City UT
  • 3533 Franklin Road S W Roanoke VA
  • 2450 Foothill Blvd Rock Springs WY

Sears

  • 1607 36Th Street Peru IL
  • 757 E Lewis & Clark Pkwy Clarksville IN
  • 154 28B W Hively Ave Elkhart IN
  • 120 Us Highway 41 Schererville IN
  • 2310 E Kansas Ave Garden City KS
  • 6945 Us Route 322 Cranberry PA
  • 3060 Clarksville Street Paris TX
  • 7630 Pershing Blvd Kenosha WI

 

 




2017 Store Closings Planned

With a new year comes change. New retail trends. New consumer behavior and demands. New tools and technologies to incorporate. New opportunities.

And with all that is new, retailers are forced to adapt to meet demand and stay ahead of the competition. That sometimes means downsizing to stay competitive and some retailers simply have too many stores.

There’s a total of 14 major retail chains have announced that they will close at least 100 stores by the end of 2020. Others will reach that total by the end of 2017. In some cases, these numbers appear to be on the low side, given the difficulties some retailers are encountering.

Aeropostale. The chain filed for bankruptcy in May 2016 and said it would close 154 stores. Now it appears that the chain will close all but about 230 of its 800 or so stores.

American Eagle Outfitters Inc. (NYSE: AEO). The company plans to close 150 stores over three years.

Chicos FAS Inc. (NYSE: CHS). Planned to close 120 stores between fiscal 2015 and 2017.

The Children’s Place Inc. (NASDAQ: PLCE). Planned to close 200 stores between fiscal 2015 and 2017.

CVS Health Corp. (NYSE: CVS) CVS Health executives outlined their long-term strategy for growth, which includes closing 70 stores in 2017.. The drugstore retailer’s overall cost-cutting plans aim for $3 billion in savings from 2017 to 2021.

Finish Line Inc. (NASDAQ: FINL). Has said it will close 150 stores by 2020.

Hancock FabricsThe company filed for bankruptcy in February 2016 and will close all 255 of its stores.

J.C. Penney — CEO Marvin Ellison made headlines in March that when he told Fortune he wouldn’t undertake “any wholesale closings of stores in its 1,020-location fleet,” though it did shutter seven locations. The Plano, Texas-based retailer operates almost as many stores as it did in 2006, but its annual sales were roughly $7 billion higher back then than they were last year. Ellison told the magazine that Penney’s future lies in e-commerce and physical stores working together.

Kohl’s. After a rocky start to 2016 when it announced 18 store closures, the Wisconsin-based no-frills retailer rebounded and reported better-than-expected results in its most recent quarter. Kohl’s, though, continues to struggle. Comparable-store sales in its latest period fell 1.7 percent, the third straight decline in this closely watched retail metric of sales at stores open a year or more, a worrisome sign for Wall Street.

Macy’s Inc. (NYSE: M). Plans to close 100 stores. The country’s largest department store chain announced plans in August to shutter 100 underperforming locations in 2017, about 15 percent of its brick-and-mortar footprint. Macy’s shed 41 locations last year and axed thousands of employees. Terry Lundgren, who had led the retailer for more than a decade, will step down next year from the CEO spot and become executive chairman.

Men’s Wearhouse Inc./Jos. A. Banks. Parent Tailored Brands Inc. (NYSE: TLRD) plans to close 250 stores, primarily outlet stores.

Office Depot Inc. (NYSE: ODP). At the time of its merger with OfficeMax, the chain said it would close 400 stores by the end of this year, and that appears to be the case.

Sears Holdings Corp. (NASDAQ: SHLD). Between Sears and Kmart stores, the company plans 142 store closings, with more likely. The Hoffman Estates, Illinois-based company has been floundering for years under the control of hedge fund tycoon Edward Lampert, who arranged the merger of Sears and Kmart that created the current company more than a decade ago.

Sports AuthorityAnother bankruptcy, with 140 stores closing.

Walgreen Boots Alliance Inc. (NYSE: WBA). The company planned to close 154 stores. Last week the company announced the sale of 865 Rite Aid Inc. (NYSE: RAD) stores to Fred’s Inc. (NASDAQ: FRED) in an effort to win approval for the Walgreens-Rite Aid merger.

Walmart Stores Inc. (NYSE: WMT). With cost pressures in mind, Walmart said in January that it would close 269 stores around the world, including its small-format Express locations that were designed to compete against the dollar stores that have taken market share from the giant in recent years. Rising expenses are weighing on the world’s largest retailer, which raised the salaries of thousands of hourly employees last year and unveiled a plan to spend billions on expanding its e-commerce operations.

The good news for U.S. retailers this holiday season is that revenues are expected to rise by about 4% and same-store sales are figured to increase by 1%. The less-good news however is that profits for the fourth quarter (ending in January) are expected to fall 1.8%.