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In the RED alert: Sears to Close 100 to 120 Kmart and Sears Stores - A Little Alytude | A Little Alytude

In the RED alert: Sears to Close 100 to 120 Kmart and Sears Stores

Big fan of Sears?

Put down that coffee, I have some unfortunate news: Sears announced today in statement that they will have to close 100 to 120 Kmart and Sears stores. Chief Executive Officer Lou D’Ambrosio said the stores are part of a plan to “reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model.”

Reuters reports that same-store sales at Kmart fell 4.4% during the current quarter through Dec. 25 and same-stores sales fell 6% at Sears. See? It’s your fault. You were all shopping at Target all last week and Sears got screwed. Bah humbug.

Sears will publish a list of the stores that are closing on searsmedia.com when it is available.



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