12.27.11
Sears Holdings willshutter 100 to 120 Kmart and Sears Full-line stores, the company announced today. Specific stores were not released by the retailer.
In addition to the closures announced today, the firm said it “will carefully evaluate store performance going forward and act opportunistically to recognize value from poor performing stores as circumstances allow.“
While the retailer’s past practice has been to keep marginally performing stores open while it worked to improve their performance, “we no longer believe that to be the appropriate action in this environment.We intend to accentuate our focus and resources to our better performing stores with the goal of converting their customer experience into a world-class integrated retail experience," according to CEO Lou D'Ambrosio.
