Sears Closings: 100+ Sears and KMart Outlets to Shutter
Two formerly prominent American retailers announced today that they are closing a significant percentage of their retail outlets following a lackluster holiday season in 2011.
Sears and KMart predate Target (and frankly appear that way), recalling as well an age before Walmart dominated the American landscape so completely- but the two former retail kings have had a rough go of it in the past year. In addition to competing with lower prices and newer facilities at more well-positioned bricks and mortar competitors, online shopping has foregrounded their failure to move forward with their slow-to-update outlets.
Just days after the Christmas season began to wrap up, the companies- which did not experience a stellar sales year in 2011- have announced that between 100 and 120 Sears and KMart outlets will be closing in 2012. Sears declined to say how many- if any- jobs would be a casualty of the closures, but it’s difficult to imagine the remaining stores would be able to absorb the excessed staff from a large number of closures.
As to the chain’s outward appearances, if you feel your local KMart looks dingy and poorly-maintained, it’s not just you. A Credit Suisse analyst cited flagging facilities as part of the reason shoppers have turned away from KMart in the past decade:
The results point to “deepening problems at this struggling chain and renewed worries about Sears survivability,” said Gary Balter, an analyst at Credit Suisse. “The extent of the weakness may be larger than expected but the reasons behind it are not. It begins and some would argue ends with Sears’ reluctance to invest in stores and service.”
Another retail analyst echoed my mother, every time we are forced to go to Sears for any reason:
“There’s no reason to go to Sears,” said New York-based independent retail analyst Brian Sozzi, “It offers a depressing shopping experience and uncompetitive prices.”
An internal memo addressing the store closures predicted the company would “bounce back and become stronger than ever.”
Tags : Kmart Closings, kmart closings 2011, kmart closings 2012, Q4 2011, Retail, Sears closings, sears closings 2011, sears closings 2012
Posted: December 27, 2011
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Dec 27, 2011
Its about time, sears has gone down hill for years, there warrentys and service are awful, Ill never buy there again.
Dec 27, 2011
GOODBYE to SEARS! They have lost their customer service……I hope they all close!
Dec 27, 2011
not a large percent works out to only 3%, between Kmart and Sears over 4000 stores, get your facts right.
Dec 27, 2011
I love k-dog—they been around for over 60 years —–hope mine stays open —-west ashly —-sc.
Dec 27, 2011
Goodbye to both stories!
Dec 27, 2011
Things Change.
Dec 27, 2011
I love our K-Mart and hope that it doesn't close!
Dec 27, 2011
Walmart sucks, as soon as they drive out their competition (which they have explicitly said they WILL do for decades) they will skyrocket their prices, oh well you get what you pay for so to speak…….
Dec 27, 2011
finally…the management at these stores was horrible; especially the manager at the North Spokane Sears store.
Dec 27, 2011
We bought a house in Arizona and had to make a trip there to get the key from the agent (that's 1000 miles one way) and be there for delivery of a dish washer be bought at a Sears outlet in Texas. The delivery guy said he'd bring it on Wednesday, but the house didn't close until Thursday. Then he said he'd be free on Friday, but he never showed up, and said he gave it to "friends" to deliver. We had to cancel the order since we had to return to TX the following day.
Sears is still trying to get the washer back before they can credit our account.
I will not miss any of their stores.
Dec 27, 2011
Don't blame Walmart…sear had every opportunity and the money to compete. Sears culture and management in my opinion was to blame. Sears was not a mom and pop store looking to survive.
Dec 27, 2011
walmart taking over the world haha.
Dec 27, 2011
You are RUDE. Working at Wells Fargo doesn't make you an expert on FACTS.
Dec 27, 2011
Walmart Does drive business away….And As for Sears and Kmart….Well, One Day we might Hate the Decisions we make.. Charitys Bloom and Boom in the State of Michigan.. Know one Care about the Damage being Done…Charity sell things without warrentys and pocket MOST if not all the Cash.."Doing the most Good" ARGH ! For themselves! I like Stores that buy Articiles to sell them for a small markup.
Dec 28, 2011
Sears do not sell the quality merchandise that they were known for. The store shelves and space is empty and the clothes is out of style for today's fashion. They did not keep up with the trends in fashion. Most of the merchandise is made overseas… even appliances, etc. So why pay all that money for nothing… but junk that you can buy at the flea markets.
Dec 28, 2011
I gotta find another job lol
Dec 28, 2011
I gotta find another job lol
Dec 28, 2011
I gotta find another job lol
Dec 28, 2011
I gotta find another job lol
Dec 28, 2011
Target next, then Wal-Mart..
Dec 28, 2011
Paul Bonkowski …seriously, I don't know what the hell you just said. If you like stores with small mark-ups then you should love Walmart. Why do you think so many people shop there. You don't make much sense
Dec 28, 2011
you dont want walmart taking over because they will raise those prices that you think is so wonderful
Dec 28, 2011
Randall Bishop You are right, this one is not Walmart's fault. Sears and Kmart could not keep up with change. Walking into one of their stores is like walking into the 1970's. They are tired, dirty, ill managed and merchandise I didn't even want in 1975. Too bad since both entities were top of their markers back in the day. This should be a lesson of what not to do in retail. Actually, both companies could have easily crushed Walmart back in the day. They had the market share, money but no brains. Oh well, we all move on some not for the better. I especially feel for the folks that will be out of a job since I am sure the parachutes will start popping open on the top sucking what is left out of the corporation as it falls. Or better yet, we could have another bail out. Too big to fail? Maybe 30 years ago.
Dec 28, 2011
Dennis Woolsey There is always online to compete with walmart
Dec 28, 2011
We bought a lot on line from Kmart this year and were happy with everything. The children's clothes were stylish and well-pressed, all of the toys that we were looking for were available and reasonably priced. We plan to make Kmart a go to place for quality, inexpensive items on-line. I sometimes have problems with on line purchases, they can get complicated sometimes, but Kmart's site was totally uncomplicated. We had to get our items delivered because there's no store nearby. Love my Kmart! This year it was Kmart for most of the children's gifts that we didn't get from Walmart on black friday, Macy's for high end purchases (the adults) and Games Stop for the teens, LOL!
Dec 28, 2011
It is a conspiracy: close the Sears Holdings stores and promote Puke-mart. I too hope that our K-mart which is within walking distance does not close. Sears has the Kardasian fashions as the K's do so goes Sears!
Dec 28, 2011
They put out a list of closing in Cols. that have been closed for 12 years already…
Dec 29, 2011
I hate to see this happen but they deserve it. I used to work for Sears and retired from KMART so this hurts me. They had no cashiers during the holidays. People standing in line so long that they put merchandise down in disgust and said they would go somewhere else. Guess where that someplace else was? Walmart down the road where they had plenty of cashiers and people to help you on the floor. Sorry but I had to sound off. You have to spend money to make money.
Dec 30, 2011
It is definitely not like it used to be. The one down here is awful and really kind of expensive on some things.