100 + Sears and Kmart stores to shut down

Sears, Kmart: Beginning of the end?

As a slide in sales continues, Sears Holdings announces the pending closures of more than 100 stores. And a year from now, the outlook might be just as grim.

By Jeff Reeves

 

While many retailers remain on pins and needles about how their holiday receipts will stack up, there's no mystery at Sears Holdings (SHLD -25.33%). The company that operates Sears and Kmart department stores has been losing customers and bleeding red ink forever, and the past few months were no exception.

 

So Sears wasted no time in announcing a huge cutback on its store count. Between 100 and 120 Sears and Kmart stores will be closed. The company says $140 million to $170 million will be made as inventory is shuffled out at fire-sale prices.

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