Sears to close 100 to 120 Kmart, Sears stores

[danfifepsu]

Sears Holdings: Retailing's Headless Horseman

http://www.forbes.com/sites/markcohen/2016/02/29/sears-holdings-retailings-headless-horseman

Written by Mark A. Cohen, former Sears executive, former CMO and president of softlines, former chairman & CEO of Sears Canada, Lazarus and Bradlees.

whats the chances Kmart will turn around?

[JimSawhill]

I wish Sears and KMart would get a divorce... I think they need it, to save them both. I would love to see some K marts becoming Ames or Bradlees... And I'd like to see Sears become SageAllen :) or Fox's.

[Zayre88]

Another great article:

The 5 Ways Ed Lampert Destroyed Sears

http://www.cnbc.com/2014/01/06/tracking-the-slow-death-of-american-icon-searscommentary.html

[danfifepsu]

Another great article:

The 5 Ways Ed Lampert Destroyed Sears

http://www.cnbc.com/2014/01/06/tracking-the-slow-death-of-american-icon-searscommentary.html

what of the towns where there is no Walmart or Target but only Kmart, whatll happen with those if Kmart goes. Whats the chances Kmart will go soonner years?

[danfifepsu]

http://blogs.wsj.com/moneybeat/2016/04/21/heres-the-list-of-the-78-stores-that-sears-plans-to-close/ More and including supercenters in Lorian, TAYLOR AND ASHATABULA. will Lorain became Meijer?

ok Louisville and Jacksonville will have one kmart left.

[katnapped]

Only 3 Super Kmart locations left after all this, and Kmart's total store count will be down in the low-800s.

[Hudsons81]

This means that all Super Kmarts will now be concentrated solely in Ohio, the Taylor one was the last one in Michigan.

It'd be interesting how they'll going to repurpose it, there is already a Meijer a few minutes up I-94 at Fairlane Green and a Walmart Supercenter just a mile southwest.

[store215]

Well, it looks like my local stores are safe for the time being, although another one in Philly bites the dust, leaving only two stores left in the city itself.

[danfifepsu]

Only 3 Super Kmart locations left after all this, and Kmart's total store count will be down in the low-800s.

whats your take on Kmart w this. I also thought Lorians was one of the most profitable. I wonder if it will become a Meijer.

[TheFugitive]

2 stores in Greater Pittsburgh, plus Uniontown, New Castle and Butler, PA.
I was by the Butler store today before I heard about this.

[jason83080]

whats your take on Kmart w this. I also thought Lorians was one of the most profitable. I wonder if it will become a Meijer.

I had that thought a while back, seeing that the planned store in Avon - that was supposed to open this year - wasn't on Meijer's website. However, I've seen some activity over where it's supposed to be built, so I don't think they're waiting to go in over there. Menards is going in across from Walmart over in Avon, so they're out of the equation, too.

There aren't really a whole lot of options for what could move in, unless you do subdivide it. In the area, there's a newer Giant Eagle that swallowed the CVS next to it for its drugstore/liquor agency, so they're likely not moving. Both Lowe's and Home Depot have newer stores nearby, as do Walmart and Target. OfficeMax/OD isn't around anymore, so there's an option for some of the space. There's a new Aldi and Dollar Tree down the street, so those are out. There's a Save-A-Lot in - ironically - a portion of the old Kmart store alongside Tractor Supply, so that's out of the question as well. Pat Catan's already has a store over there - ironically, too, in the old Kmart - so building a larger one might be out, as well.

What could go in there? In all honesty, I'd love to see it subdivided and the small/old Big Lots on Oberlin Road and Marc's over in Sheffield Center move in to some larger, cleaner settings. Granted, the Elyria Marc's by the mall is rather large, but a decent chunk of it is closed off (where Cosmetics used to be in the front corner) and the old Pharmacy is still sitting there vacant, so maybe space isn't something that Marc's really needs out here. Then again, the Southland store - #1, the flagship location - is one of the largest around, so who knows why Elyria has wasted space?

[danfifepsu]

whats your take on Kmart w this. I also thought Lorians was one of the most profitable. I wonder if it will become a Meijer.

I had that thought a while back, seeing that the planned store in Avon - that was supposed to open this year - wasn't on Meijer's website. However, I've seen some activity over where it's supposed to be built, so I don't think they're waiting to go in over there. Menards is going in across from Walmart over in Avon, so they're out of the equation, too.

There aren't really a whole lot of options for what could move in, unless you do subdivide it. In the area, there's a newer Giant Eagle that swallowed the CVS next to it for its drugstore/liquor agency, so they're likely not moving. Both Lowe's and Home Depot have newer stores nearby, as do Walmart and Target. OfficeMax/OD isn't around anymore, so there's an option for some of the space. There's a new Aldi and Dollar Tree down the street, so those are out. There's a Save-A-Lot in - ironically - a portion of the old Kmart store alongside Tractor Supply, so that's out of the question as well. Pat Catan's already has a store over there - ironically, too, in the old Kmart - so building a larger one might be out, as well.

What could go in there? In all honesty, I'd love to see it subdivided and the small/old Big Lots on Oberlin Road and Marc's over in Sheffield Center move in to some larger, cleaner settings. Granted, the Elyria Marc's by the mall is rather large, but a decent chunk of it is closed off (where Cosmetics used to be in the front corner) and the old Pharmacy is still sitting there vacant, so maybe space isn't something that Marc's really needs out here. Then again, the Southland store - #1, the flagship location - is one of the largest around, so who knows why Elyria has wasted space?

and ok even some Kmarts closing ahve the NEW LOGO that were built in the 1990s? OK whats up w that? as they are more attractive looking!

[danfifepsu]

More Kmarts are closing, like Rome Ga, one in Mi and one in Bluefield WV. OK I saw Kmart in Presquse isle Me they dont have layaway listed and I called the store and they are no longer taking layaway whats that mean?
Wausau WI is closing its Sears.

[danfifepsu]

http://bangordailynews.com/2016/05/03/news/aroostook/presque-isle-kmart-to-close/

[danfifepsu]

Here's a story about the Presque Isle Kmart closure from the BDN:
http://bangordailynews.com/2016/05/03/news/aroostook/presque-isle-kmart-to-close/

why would taht close? and then bosier city LA (The only nea near Shreveport), Farmington HIlls Mi, Christiansburg VA, Bluefield and Rome GA are closing. Why more??????

[danfifepsu]

http://wjhl.com/2016/05/03/kmart-on-west-state-street-in-bristol-tn-to-close-in-august/    http://www.wandtv.com/story/31881890/breaking-decatur-kmart-to-close-its-doors-in-august   and the only one near shreveport la too

[dmx10101]

Sears May Sell Off Kenmore, Craftsman, DieHard To Shore Up Losses
May 26, 2016 7:17 PM

NEW YORK (AP) â€" Long-struggling retailer Sears says it plans to try to leverage its strongest brands like Kenmore and Craftsman to help sustain itself as it posted a larger first-quarter loss Thursday and said sales fell at its Kmart and namesake stores.

The chain said it’s looking at options for prized brands that also include DieHard and Sears Home Services, including possible partnerships or deals that could expand their distribution and service offerings. It gave no specifics, but said it believes the Kenmore, Craftsman and DieHard brands can grow significantly with an expanded presence outside of Sears and Kmart.

Sears shares were flat at $12.52 each in late-morning trading Thursday.

Other major department stores such as Macy’s, Kohl’s and J.C. Penney saw sales decline in the latest quarter as they wrestle with changes in shopping preferences. Americans are making their purchases online and spending more on experiences like eating out rather than new clothes. And when shoppers do buy clothes, it’s at discounters like T.J. Maxx.

But Sears fared far worse, and analysts put much of the blame on the company itself. Sears Holdings Corp., based in Hoffman Estates, Illinois, has struggled for years with weaker sales, unable to keep up with companies that sell appliances, like Home Depot, or general merchandise, like Wal-Mart, or everything, like Amazon.com. Its stores, largely outdated and often grungy, are its albatross.

Sears saw declines even in appliances, where its Kenmore brand and others are an established presence, even as other retailers enjoyed increases from an improving home market. That, says Neil Saunders, CEO of the research firm Conlumino, highlights Sears’ main issue: “It has fallen out of favor with American shoppers who continue to abandon the chain at a fairly alarming rate.”

The company’s Chairman and CEO Edward Lampert has pledged to investors that a turnaround is in store, but it has yet to happen. Sears has been selling assets to raise cash and accelerating store closures. In April, it said would close another 68 Kmarts and 10 Sears stores. That accounts for close to 5 percent of its nearly 1,700 stores. In 2011, it operated 4,000 stores.

Those closures come as Sears tries to shift its focus from running a store network to a member-focused business. Loyal shoppers receive incentives to buy. But those moves haven’t gained much traction with consumers.

For the quarter that ended April 30, sales at Kmart stores in the U.S. that have been open for at least a year fell 5 percent. At Sears locations, they dropped 7.1 percent. The metric is a key gauge of a retailer’s health because it excludes results from locations recently opened or closed.

The declines were fueled by declines in home appliances, clothing, consumer electronics, footwear and Sears Auto Centers. Lampert said Thursday that clothing sales continue to be hurt by heavy promotions from competitors.

Sears posted a loss of $471 million, or $4.41 per share, for the quarter. A year earlier, it lost $303 million, or $2.85 per share. Removing certain items, the chain lost $1.86 per share. Revenue declined to $5.39 billion from $5.88 billion.

The company also announced that Chief Financial Officer Robert Schriesheim plans to leave the company but will stay until a replacement is found. He will remain an adviser to Sears through January 2017.

[JSIDA17]

I feel like that would hurt the company more than help it.

[shore72]

To me, what does Sears have EXCEPT those few brands? Trouble for the stores is that they're already selling them elsewhere. I can buy Craftsman tools at the Sears store, or drive around the corner & buy them at the Ace Hardware store. Meanwhile, Lowes/Home Depot have been working overtime to build up their own tool & appliance business. I had some time to kill recently & spent part of it browsing the appliance dept at a Home Depot. It wasn't giving anything up to Sears. And then, AutoZone/Advance et al have been beating the drum for their battery brands. Sears could easily find itself with 3 brands that really don't matter anymore...and without exclusive rights to the brands, the stores will be just that much more of a ghost town.

[MikeRa]

From what I saw in the 6/11/2016 Philadelphia Inquirer, the Kmart (former Clover) on Frankford Avenue is closing.  It is next to a shuttered Pathmark Super Center (former Shop Rite until Supermarkets General left the Wakefern co-op in 1968)

[JimSawhill]

From what I saw in the 6/11/2016 Philadelphia Inquirer, the Kmart (former Clover) on Frankford Avenue is closing.  It is next to a shuttered Pathmark Super Center (former Shop Rite until Supermarkets General left the Wakefern co-op in 1968)

A dead shopping center...two closed stores that are the anchors...I wonder what will happen to it. I wonder if it will stay empty like the Stop and Shop/Bradlees shopping center in Hartford.

[dmx10101]

uh oh looks like the end of the road is near...

Kmart workers believe all the stores are going to be imminently shut down
http://finance.yahoo.com/news/kmart-workers-believe-stores-going-162400821.html

[jason83080]

Just out of curiosity, the latest batch of Kmart closing sales started in, what, June? I stopped by our last remaining Super Kmart - Lorain, OH - yesterday and saw that, for a store that's supposedly closing next month, it was still pretty well stocked. On the food side, there were a lot of dry goods and even frozen food available, but only marked down to 25% off (and, with the inflated liquidator prices as the 'before' prices, these 'after' prices were basically regular price). Even the deli was still open and trying to burn through the last bricks of cheese and cooked ham that they still had. To me, it looked like the only food that was actually gone was the fresh stuff that probably just expired away. On the other hand, the Electronics section was pretty much wiped of anything of value, except for a couple of TVs, a very small selection of DVDs, and a boatload of iHome USB car adapters and selfie sticks.

Is this normal and I'm just noticing it now, or is this store really just taking its sweet time in closing down? The Pharmacy was gone (with prescriptions transferred to the Walgreens across the street), as was Little Caesars. The in-store US Bank was still up and running.

Also, odd as this may seem, I saw some newer Kmart signage hanging in certain departments toward the front (some of the clothing departments, Customer Service, the far-off Restrooms by the old Food Court) while the old '90s multicolored signs were hanging in other departments.

[store215]

Hmm.....this odd list of stores popped up on a 'deal' website....it's for an offer of $25 back in points when you buy shoes, but anyway, it's only valid at the stores on this list and the pdf is oddly named 'Liquidity_Details.pdf' (as in liquidation?). Might be an indication of stores that are going to close in the near future....I know at least a couple of those stores in my area are either in dying malls, or are Sears stores where they have already cut down the size of their sales floor in the last few years.
https://static.cdn.responsys.net/i2/responsysimages/content/sears2/20160825SRSLiquidity_Details.pdf?rioptype=SC&ruid=2003156&sid=IOx20160825SRSBAULQDx01433907x2003156xMLIQUID186&eml=36635462

[TRU7536]

The end is coming for both Sears and Kmart sadly. Many articles state in anther 2 years the whole company will be gone.

[danfifepsu]

in December Lafayette IN, 2 in GRand rapids area, SCOTTSBLUF NEBRASKA, FAYETTEVILLE NORTHWESTERN ARKANSAS SPRINGDALE AL STORE (only one near WALMART HQ), Abilene TX, Oak Ridge TN and Binghamton are closing,  Burlington NC, cullman al, cody al, nachez MS and there will be TWO LEFT IN MISSISSIPPI THEN WHY?Huh and only 3 or 4 in NEBRASKA

[retailisking]

The Kmart closings are good news - for Seritage. Paying a penalty of one year's rent for each terminated store lease, however, isn't so good news for Sears Holdings.
http://blogs.barrons.com/stockstowatchtoday/2016/09/16/why-sears-store-closings-could-be-good-news-for-seritage/

[Zayre88]

Moody's: Sears' and Kmart's shutdown is imminent

Moody's analysts say Sears and Kmart don't have enough money â€" or access to money â€" to stay in business.

http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9

[danfifepsu]

craig co and kearny nebraska are closing too. OK 2 LEFT IN NEBRASKA omaha and alliance.

[danfifepsu]

http://www.businessinsider.com/list-of-kmart-stores-closing-2016-9 and only one left arond Salt Lake City too and last one in memphis seems is closing. THINGS ARE GETTING REALLY BAD!and Mentor isnt on the store locator and its a remaining Supercenter and Warren Oh a remaning supercenters hours are from 8 am to 11 pm. MAYBE ITS at this pt or soon RIP SUPER KMART 1991-2016.