The company said this week it has identified another 46 locations, which consists of 13 Kmart stores and 33 Sears stores, that it will shut in November. The locations are spread across the U.S., ranging from California to Texas and North Carolina. (See a full list below.)
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” the company said in a statement.
Liquidation sales at those 46 stores are expected to begin as soon as next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for open other nearby stores.
Already this year, Sears had said in January that it was planning to shut more than 100 stores. It then announced another round of roughly 100 store closures in May. Sears was operating 894 stores in total as of May 5, which is the latest available total provided by the company.
With CEO Eddie Lampert at the helm, Sears has been trimming its real estate footprint as sales dwindle at its stores and shoppers increasingly opt to ring up purchases online or outside of shopping malls. Sears is currently evaluating a bid from Lampert’s hedge fund, ESL Investments, where ESL would buy the Kenmore appliance brand from Sears for $400 million. The company had previously sold off its Craftsman tool brand.
Sears is still testing new concepts, like standalone mattress stores and combined Sears and Kmart locations, but retail analysts say it will be hard for the company to bounce back from its dire strait today.
Sears shares have fallen more than 85 percent over the past 12 months, bringing the company’s market cap to $127.8 million, or less than Lampert is willing to pay for the Kenmore brand alone. The stock hit an all-time intraday low of $1.15 earlier this week.
Here are the 46 Sears and Kmart stores set to close in November:
Kmart 935 Sweetwater Road Spring Valley CA
Kmart 1075 Shaw Avenue Clovis CA
Kmart 3625 East 18th Street Antioch CA
Kmart 6310 W 3rd Street Los Angeles CA
Kmart 589 Bridgeport Avenue Milford CT
Kmart 301 College Square Newark DE
Kmart 3231 Chicago Road Steger IL
Kmart 11 South Kings HWY 61 Cape Girardeau MO
Kmart 2308 Highway 45 N Columbus MS
Kmart 605 Old Country Road Riverhead NY
Kmart 440 NW Burnside Road Gresham OR
Kmart 101 Great Teays Blvd Scott Depot WV
Kmart 2150 South Douglas HWY Gillette WY
Sears^ Flagstaff Mall, 4800 N US HWY 89 Flagstaff AZ
Sears Capitola Mall, 4015 Capitola Road Santa Cruz CA
Sears† 2424 Highway 6 And 50 Grand Junction CO
Sears 2266 University Square Mall Tampa – University FL
Sears† 1625 NW 107th Avenue Doral / Miami FL
Sears^ Coastland Ctr, 2000 9th Street N Naples FL
Sears^ Oglethorpe Mall, 7810 Abercorn St Savannah GA
Sears† 2860 Cumberland Mall Atlanta GA
Sears† 100 Mall Blvd Ste 300 Brunswick GA
Sears^ 1631 E Empire Street Bloomington IL
Sears* 4201 Coldwater Road Fort Wayne IN
Sears 3000 Mall Road Florence KY
Sears† 1914 Hammond Square Drive Hammond LA
Sears* 50 Holyoke Street Holyoke MA
Sears^ Silver City Galleria Taunton MA
Sears† 1250 Jackson Xing I-94 Jackson MI
Sears* 4601 Glenwood Avenue Raleigh – Crabtree NC
Sears* 77 Rockingham Park Boulevard Salem NH
Sears* 1500 South Willow Street Manchester NH
Sears† 4409 Black Horse Pike Mays Landing NJ
Sears* 200 Eastview Mall Victor NY
Sears* 578 Aviation Road Queensbury / Glen Falls NY
Sears 1400 Union Turnpike New Hyde Park NY
Sears 2700 Miamisburg Centerville Road Dayton OH
Sears* 9505 Colerain Avenue Cincinnati – Northgate OH
Sears† 11800 SE 82nd Avenue Happy Valley / Portland OR
Sears† 400 Memorial City Way Houston – Memorial TX
Sears* Post Oak Mall College Station – Bryan TX
Sears 7453 S Plaza Center Drive West Jordan UT
Sears 12000 Fair Oaks Mall Fairfax VA
Sears† 8800 NE Vancouver Mall Drive Vancouver WA
Sears† 4720 Golf Road Eau Claire WI
Sears Valley View Mall, 4200 US HWY 16 La Crosse WI
Additionally, the Sears Auto Center at these locations will close in the following timeframe:
^ Late August 2018
* Late September 2018
† Late October 2018
Be the first to comment