Sears Holdings Closing Another 43 Stores

Sears Holdings has announced it will close 43 more stores—eight Sears stores and 35 Kmarts—by early October.

A full list can be seen here.

In a blog post, chairman and CEO Eddie Lampert called all the stores unprofitable and said the closures were part of the company’s ongoing transformation.

“Changes in consumer behavior are driving our vision and actions, and we continue to transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” he said in the post.

Lampert also admitted that the company’s vendors were starting to lose faith.

“We reached the point in the past 12 months where some of our vendors have reduced their support thereby placing additional pressure on our business,” he said. “I believe the changes we have made will begin to build more confidence in the future of Sears Holdings among our vendors so that they will increase their support and put us on a more level playing field with our competitors.”

Last April, Sears Holdings announced it was closing 78 stores, then said it was closing another 64 in September.

(Image courtesy of Sears Holdings)

JCK News Director