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Bridging The Gap
100+ Kmart, Sears stores to close this spring.
  Thursday 04 January, 2018
100+ Kmart, Sears stores to close this spring.

More than 100 Sears and Kmart stores will close in March and April, Sears Holdings announced Thursday.

The list of unprofitable stores is comprised of 39 Sears locations in 22 states and 64 Kmart sites in 29 states.

Liquidation sales at the stores will begin as soon as Jan. 12, according to Hoffman Estates, Ill.-based Sears Holdings.

Store employees will receive severance pay and may apply for jobs at other Kmart and Sears stores.

Though U.S. retail holiday sales were better than they've been in years -- up 4.9%, the largest increase since 2011, according to Mastercard SpendingPulse -- the industry continues to suffer.

The Sears and Kmart news came the same day Macy's announced that it was cutting 5,000 jobs and shuttering an additional seven stores in six states.

Sears stock closed at $3.58, down 18 cents or 4.79%, on Thursday.

Source: https://www.usatoday.com/story/money/2018/01/04/100-kmart-sears-stores-close-spring/1005037001/

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