Thread: Sears and Kmart just closed nearly 80 stores — see if your local store is on the list

Sears and Kmart just closed nearly 80 stores — see if your local store is on the list

7 hours ago


(A worker unpacks televisions at a Sears in Schaumburg, Illinois, near Chicago.Reuters)

Sears just closed dozens of stores. The chain said in April that it would accelerate the closing of 78 stores, including 10 Sears stores and 68 Kmart stores. All but two were expected to close in late July.

Sears has been struggling.

In the most recent quarter, Sears' sales dropped 8.3% to $5.39 billion. Same-store sales dropped 7.1% at the company's namesake stores and fell 5% at Kmart stores.

In announcing earnings, the company revealed that its chief financial officer, Robert Schriesheim, would be leaving Sears to "pursue other career opportunities."

The company didn't say how many employees would be laid off as a result of the store closures.

"The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability," Sears CEO Edward S. Lampert said in a statement earlier this year. "We're focusing on our best members, our best categories and our best stores as we work to accelerate our transformation."

Here's a list of the stores that were on schedule to close in late July, including two that will close in September:

Alabama

• Sears: 700 Quintard Drive, Oxford
• Kmart: 5980 Chalkville Mountain Road, Birmingham
• Kmart: 1101 Beltline Road, Decatur
• Kmart: 230 Green Springs Highway, Homewood
• Kmart: 450 Z Schillingers Road, Mobile

Arizona

• Kmart: 300 W. Mariposa Road, Nogales

Arkansas

• Sears: 600 S. University Ave., Little Rock

California

• Kmart: 2270 E. El Monte Way, Dinuba
• Kmart: 520 S. Cherokee Lane, Lodi
• Kmart: 1475 Hillman St., Tulare
• Kmart: 2785 Highway 46, Wasco

Connecticut

• Kmart: 44 Providence Pike, Putnam

Florida

• Sears: 9501 Arlington Expressway, Jacksonville
• Kmart: 9600 San Jose Blvd., Jacksonville
• Kmart: 500 Atlantic Blvd., Neptune Beach
• Kmart: 1809 S. Byron Butler Parkway, Perry

Illinois

• Kmart: 7050 S. Pulaski Road, Chicago
• Kmart: 2721 N. Vermilion St., Danville
• Kmart: 1150 W. Carl Sandburg Drive, Galesburg
• Kmart: 17355 Torrence Ave., Lansing
• Kmart: 2909 Court St., Pekin
• Kmart: 3840 46th Ave., Rock Island

Indiana

• Kmart: 3216 E. Third Street, Bloomington
• Kmart: 3525 Grant Line Road, New Albany

Kansas

• Kmart: 1320 E. 30th Ave., Hutchinson

Kentucky

• Kmart: 1809 N. Dixie Highway, Elizabethtown
• Kmart: 4025 Poplar Level Road, Louisville
• Kmart: 3911 Taylorsville Road, Louisville
• Kmart: 1581 US 68 S., Maysville
• Kmart: 344 North Mayo Trail, Paintsville

Louisiana

• Sears: 5953 W. Park Ave., Houma
• Kmart: 2985 Cottingham Expressway, Pineville

Massachusetts

• Kmart: 10 Main St., Tewksbury

Michigan

• Sears: 6810 Eastman Ave., Midland
• Kmart: 8171 W. Houghton Lake Drive, Houghton Lake
• Super K: 21111 Van Born Road, Taylor (set to close in September)

Missouri

• Kmart: 11978 St. Charles Rock Road, Bridgeton
• Kmart: 1930 E. Kearney St., Springfield

Mississippi

• Kmart: 118 Highway 72 W., Corinth

Montana

• Kmart: 2424 Central Ave., Billings

North Carolina

• Kmart: 804 N. Broad St., Brevard
• Kmart: 3580 E. Franklin Blvd., Gastonia
• Kmart: 2750 Roberts Ave., Lumberton
• Kmart: 10500 Centrum Parkway, Pineville
• Kmart: 720 Sutter's Creek Blvd., Rocky Mount

Nebraska

• Kmart: 3001 W. 12th St., Hastings

New York

• Sears: 200 Medley Centre Parkway, Irondequoit
• Sears: 60 Smithfield Blvd., Plattsburgh
• Kmart: 838 South Road, Poughkeepsie
• Kmart: 3049 W. Ridge Road, Rochester

Ohio

• Sears: 1377 Marion-Waldo Road, Marion
• Super K: 3315 N. Ridge Road E., Ashtabula
• Kmart: 1705 N. Barron St., Eaton
• Kmart: 1825 N. State Route 19, Fremont
• Kmart: 2250 Harding Highway, Lima
• Super K: 5350 N. Leavitt Road, Lorain (set to close in September)
• Kmart: 625 W. Central Ave., Springboro

Pennsylvania

• Sears: 101 Clearview Circle, Butler
• Sears: 2500 W. State St., New Castle
• Kmart: 2660 Constitution Blvd., Beaver Falls
• Kmart: 8800 Frankford Ave., Philadelphia
• Kmart: 3000 McIntyre Square Drive, Pittsburgh
• Kmart: 1775 S. Braddock Ave., Pittsburgh
• Kmart: 3045 N. Fifth St. Highway, Reading
• Kmart: 99 Matthews Drive, Uniontown

South Carolina

• Kmart: 2209 W. Dekalb St., Camden

South Dakota

• Kmart: 1000 18th St. SW, Huron
• Kmart: 2210 Broadway St., Yankton

Tennessee

• Kmart: 1802 Decatur Pike, Athens
• Kmart: 945 McCammon Ave., Maryville
• Kmart: 902 S. Main St., Sweetwater

Texas

• Kmart: 11330 Montwood Drive, El Paso
• Kmart: 1405 E. Expressway 83, Mission
• Kmart: 210 SE Georgia Ave., Sweetwater

Utah

• Kmart: 1055 E. Draper Parkway, Draper
• Kmart: 610 W. Price River Drive, Price
• Kmart: 1442 W 9000 S., West Jordan

Wisconsin

• Kmart: 1275 Bell Ave., Hartford

NOW WATCH: Find out if you live near one of the Sears or Kmart stores closing this year

https://www.yahoo.com/finance/news/s...162915476.html

Macy's says it'll shut 100 more stores, and its stock jumps


Macy's said Thursday that it plans to close about 100 of its 675 full-line stores in 2017. (Stephan Savoia / Associated Press)


James F. Peltz

Macy’s Inc. said Thursday that it will close about 100 of its full-line stores next year — some 15% of its full-line store base — as the struggling retailer grapples with rapid changes in people’s buying habits.

The Cincinnati-based company said the locations of the closed stores would be announced at a later date. It would not say whether the closures would include any of its 127 stores in California.

Most of the closures will occur early next year and involve an unspecified number of job cuts, Macy’s said.

Macy’s currently operates 675 full-line stores nationwide and 728 stores overall. The stores being closed generate roughly $1 billion in annual sales, or 4% of Macy’s total sales.

“Nearly all of the stores to be closed are cash flow positive today, but their volume and profitability in most cases have been declining steadily in recent years,” Macy’s President Jeff Gennette said in a statement.

Macy's said closing the stores would enable the chain to bolster its online presence and "elevate our total customer experience across all methods of shopping."

The move follows the chain’s decision to shut 40 stores earlier this year.

Macy’s said the upcoming store closings would not affect its Bloomingdale’s division.

Also on Thursday, Macy’s announced a sharp drop in its second-quarter profit on a 4% drop in sales.

Macy’s said its same-store sales last quarter — that is, sales at stores open at least one year, which is a key gauge of retailing — fell 2% from the same quarter last year.

Macy’s and other major apparel-heavy retailers such as Kohl’s Corp. and Nordstrom Inc. are under intense pressure because foot traffic at shopping malls is dropping as people increasingly shop online and spend less on apparel.

“We operate in a fast-changing world” that requires “doing things differently and making tough decisions,” Macy’s Chief Executive Terry Lundgren said in a statement.

In its second quarter, which ended July 30, Macy’s said its profit plunged to $11 million, or 3 cents a share. That’s down from $217 million, or 64 cents a share, in the year-earlier quarter.

Excluding the impact of earlier store closings and other items, Macy’s per-share earnings were 54 cents, down from 94 cents in the same quarter a year earlier.

But Macy’s stock surged in response to its store-closure announcement. The stock was up 16.1% to $39.47 a share shortly before 8:30 a.m. Pacific Time.

http://www.latimes.com/business/la-f...nap-story.html

I believe a large percent of the business loss is a result of Macy's moving there manufactering and buying offices to China, Vietnam & India.

10 years ago when the goods were made and purchased in the U.S., apparel quality was supreme and fashion trends change every 30 - 40 days.

Today, it all comes from China & India, wash once and throw it away because it's all cheap crap and due to the lead time to produce and import, the same crap stays on the retail floor for 6 + months.