Sears Closing Stores Nationwide After Disappointing 2015 Sales

Sears is closing stores around the country after disappointing sales in 2015. As previously reported by the Inquisitr, Kmart, a part of the Sears Holdings company, also announced store closures. Sears and Kmart store closings may be happening more quickly than planned due to the fourth quarter losses report recently handed to company executives.

On Tuesday, Sears executives were given the quarterly earnings report, which revealed it garnered $7.3 billion in revenue during the fourth quarter of 2015. The sale figures equate to a $1 billion loss compared to the same time period in 2014, the Examiner reports.

Sears Holdings had this to say about the store closings.

“We entered the holiday selling season with key product offerings and promotions intended to build engagement with our members and provide them with the best experience possible. The holiday selling season proved to be challenging, with historically warm weather and intense competition pressuring margins and driving comparable store sales declines, particularly in our apparel and related softlines businesses.”

The company went on to state that they have no intention of borrowing money to bolster stores that continue to generate losses. The Sears closings will allow the company to be more flexible as they “transition from a traditional network based model to a more asset light member-centric integrated retailer” model and enhance their “Shop Your Way” program.

Sears is reportedly enhancing its online sales, which were more profitable in 2015, and cutting back on the overhead associated with brick-and-mortar stores, including employee paychecks. Unlike Walmart, which recently published a list of its slated store closings, Sears will only be releasing such information to local media outlets over the next several months, USA Today notes.

Consumer Reports subsidiary Consumer Media released a list of Kmart and Sears closing stores, as well as locations that recently closed. The list was reportedly generated via a compilation of information given to local media outlets where stores are located.

June 2015: Missoula, Montana: Sears and Auto Center

July 2015: Sangertown Mall, Utica, New York: Sears and Auto Center

December 2015: Sikes Senter Mall, Wichita Falls, Texas: Sears and Auto Center

February 2016: Staten Island Mall, Staten Island, New York: Sears Auto Center only

March 2016: Mount Berry Mall, Rome, Georgia: Sears and Auto Center

April 2016: Birchwood Mall, Fort Gratiot, Michigan: Sears and Auto Center

April 2016: San Mateo, California: Sears store

Kmart Store Closings

April: Wicker Park, Illinois

May: Colonial Heights, Virginia

June: Wauwatosa, Wisconsin

June: Hopewell, Virginia

June: Schuylkill Mall, Frackville, Pennsylvania

June: Greenville, North Carolina

July: Ontario, Oregon

July: Mount Pocono Plaza, Mount Pocono, Pennsylvania

July: Mobile, Alabama

July: Tulsa, Oklahoma

July: Hilltop, Virginia Beach, Virginia

August: Bel Air, Alabama

August: Bellevue Center, Tennessee

October: Vineland, New Jersey

October: Atwater, California

October: Chantilly, Virginia

November: Parkville, Maryland

November: Sturgis, Michigan

November: Spearfish, South Dakota

November: Los Banos, California

November: Davenport, Iowa

November: Lake Park, Florida

December: Belvidere, Illinois

January 2016: South Burlington, Vermont

March 2016: Honolulu, Hawaii

March 2016: Lutz and Daytona, Florida

March 2016: Cleveland, Tennessee

March 2016: Canton, Illinois

March 2016: Daytona Beach, Florida

March 2016: Covington, Virginia

Spring 2016: Florence, Dothan, and Prattville, Alabama

April 2016: Citrus Heights and Chula Vista, California

April 2016: Ottumwa, Iowa

April 2016: Mitchell and Pierre, South Dakota

April 2016: Topeka, Kansas

April 2016: Pocatello, Idaho

April 2016: Logan, Idaho

April 2016: Superior, Wisconsin; Virginia, Minnesota; and Ironwood, Michigan

April 2016: Steubenville, Ohio

April 2016: Cedar Bluff and Virginia Beach, Virginia

April 2016: Claypool, Virginia

April 2016: Milledgeville, Georgia

April 2016: Dublin, Georgia

April 2016: Richfield, Utah

April 2016: Florence, Alabama

April 2016: Warren, Ohio

April 2016: Morton, Ohio

The Sears closings list is believed to be just a preliminary or partial notice of pending store closures. Sears Holdings representative Howard Reifs said that employees at more than 50 stores were informed in January about pending store closures. Liquidation sales are currently taking place, with more to follow.

[Image via Niloo/]