Reports: Sears Holdings to close another 43 locations
July 9, 2017,
CHICAGO — Sears Holdings announced Friday that it is closing another eight Sears store locations and 35 Kmart locations, according to a report in USA Today.
This is in addition to the 18 Sears closings and two Kmart closings announced in June, which brought the total of store closings to 236 since January. The company also shut down Pharmacy operations at 92 Kmart stores and Sears Auto operations at 50 stores, according to CNN, which also said Sears closed 240 stores in 2016 and 54 in 2015.
“We have fought hard for many years to return unprofitable stores to a competitive position and to preserve jobs,” Lampert continued in his statement. “We don’t make decisions to close stores lightly,” he noted, adding that he aims to make Sears Holdings “more relevant and competitive for our members and other constituents.”
The combined closings are part of a goal to achieve $1.25 billion in annualized cost savings this year and also to improve the company’s overall liquidity.
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