Money Sears is quietly closing more stores than it said it would

00:25  21 april  2017
00:25  21 april  2017 Source:   Business Insider

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Now the company is closing even more stores . Sears , which owns both Sears and Kmart stores , has been notifying local media of the Sears now has fewer than 1,500 stores , down from 2,073 five years ago. If you work for Sears and your store is closing , reach out to retail@businessinsider.com.

Now the company is closing even more stores . Sears , which owns both Sears and Kmart stores , has been notifying local media of the Sears now has fewer than 1,500 stores , down from 2,073 five years ago. If you work for Sears and your store is closing , reach out to retail@businessinsider.com.

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Now the company is closing even more stores . Sears , which owns both Sears and Kmart stores , has been notifying local media of the Sears now has fewer than 1,500 stores , down from 2,073 five years ago. If you work for Sears and your store is closing , reach out to retail@businessinsider.com.

Now the company is closing even more stores . Sears , which owns both Sears and Kmart stores , has been notifying local media of the Sears now has fewer than 1,500 stores , down from 2,073 five years ago. If you work for Sears and your store is closing , reach out to retail@businessinsider.com.

Quotes in the article

Sears Holdings Corp

SHLD

3 Huge Mistakes Explain Why Sears Is Now Dying

  3 Huge Mistakes Explain Why Sears Is Now Dying Everyone knows it's only a matter of time before Sears Holdings Corp. drops dead. From draining its cash position to $286 million in 2016 from a high point of $1.7 billion in 2009 to having disastrous holiday seasons to not generating cash flow from its operations or seeing revenue growth since 2006, Sears is on a slippery slope to demise.Even Sears admitted as much last week."Substantial doubt exists related to the company's ability to continue as a going concern," the struggling retailer said in an annual report filed with the Securities and Exchange Commission.

Sears has been quietly closing more stores than it said it would … THOMASDISHAW.COM - Apr 20, 2017.

The company quietly closed about 100 stores last year. "The pieces are likely worth more than the whole, particularly as we consider that the Sears brand has been allowed to decay," Jim Danahy, chief executive of consultancy CustomerLAB and director of the Centre for Retail Leadership at York

13.64
-0.32
-2.29%

Sears Holdings announced in January that it would shut down 150 stores this year, with most locations closing by April.

Now the company is closing even more stores.

Sears, which owns both Sears and Kmart stores, has been notifying local media of the additional closures over the past several weeks.

Most of the stores on the new list will start liquidation sales in April and close in July.

Sears didn't immediately respond to a request for comment on how many more closures will occur this year.

We compiled a list of the additional closures that the company has revealed so far, and will update this list as we learn of more locations that will shut down.

Kmart

-33400 W. Seven Mile Rd, Livonia, Michigan

-424 Dairy Road, Kahului, Hawaii

-4480 Indian Ripple Road, Dayton, Ohio

-16881 Conneaut Lake Road, Meadville, Pennsylvania

-1 Millbrook Plaza Lane, Mill Hall, Pennsylvania

Sears Canada has Q4 loss, same-store sales up

  Sears Canada has Q4 loss, same-store sales up TORONTO - Sears Canada Inc. (TSX:SCC) reported a $45.8-million loss in its latest quarter, but noted that same-store sales improved compared with a year ago as the company has worked to reinvent itself. The retailer said Wednesday same-store sales for the quarter ended Jan. 28 were up 1.3 per cent compared with the same quarter last year. It says there's also been growth in same-store sales through the first two months of its current quarter. Sears, SCC

Lampert's average cost on his Sears holdings is .43, according to Bloomberg data. A Kmart store closing . Sabino said " it 's more than a coincidence" that the transactions follow Sears ' recent suggestion that it won't be able to continue doing business plus its "horrendous" recent fourth quarter

Sears Holdings Corp will close as many as 120 of its Kmart and Sears discount and department stores after its holiday sales slumped, sending its shares sliding more than 27 percent to their lowest level in three years.

-300 Lincoln Ave, East Stroudsburg, Pennsylvania

-17911 Pacific Ave., S. Spanaway, Washington

Sears

-Aventura Mall, 19505 Biscayne Blvd, Miami, Florida

-3199 N White Sands Blvd, Alamogordo, New Mexico

-Northwoods Mall, 7801 Rivers Ave, Charleston, South Carolina

Sears chief financial officer, Jason Hollar, suggested in March that the company would be closing stores in addition to the 150 already announced this year.

In a prerecorded conference call, Hollar said the company was looking for ways to generate "liquidity" — in other words, cash — and he specifically highlighted the company's real estate.

"We have a valuable real-estate portfolio, which at the end of the fourth quarter comprised 1,050 leases with significant optionality, as well as 380 owned stores, many in prominent locations," Hollar said. "We will continue to assess opportunities to right-size our store footprint and inventory levels aligned to our ongoing transformation to an asset-light integrated retail model."

Sears is under pressure from years of plunging sales , and investors have been supportive of the company's decision to close its unprofitable stores.

Sears now has fewer than 1,500 stores, down from 2,073 five years ago.

If you work for Sears and your store is closing, reach out to retail@businessinsider.com.

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Warren Buffett paid least among big company CEOs, only one under $1 million .
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