MI stores in new round of Sears & Kmart closings

Violet Powell
January 8, 2018

Sears Holdings Corp., which operates Kmart stores, announced Thursday (Jan. 4) it its closing 103 stores, including the 64 Kmart outlets.

Two more Valley Kmart stores will be closing their doors shortly. The other Washington sites are in Shoreline and Chehalis. The Sears news came on the same day Macy's announced store closings and job cutbacks. Liquidation sales will begin in mid-January.

Sears closed in Macon Mall in 2011.

Sears Holdings said in the statement that it would continue assessing the productivity of Kmart and Sears stores and will "right size our store footprint in number and size".

The Wall Street Journal recently reported that Sears and Kmart didn't run TV ads after the initial Black Friday weekend, to focus on its digital efforts. Sears has not turned an operating profit in five years and has managed just eight profitable quarters in the last 39 - including last quarter.

Local K-Mart closing it's doors.

Sears stock closed at $3.58, down 18 cents or 4.79%, on Thursday.

The Kmart in Salisbury, Maryland, is one of the locations that will also close in early April and so, too, are 10 Kmart sites in Pennsylvania.

In July 2015, Sears Holdings created New York-based Seritage Growth Properties, an independent real estate investment trust (REIT), to better manage its remaining assets and to take on the role of a landlord.

In late 1989, Sears moved from that location to be one of the original anchors in the then-new Gateway Mall. Retail and office space will occupy the lower two levels, replacing Sears' parking lot. "A lot of people do online shopping nowadays".

Business Insider reports the company's sales are down 45% since early 2013.

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