This isn’t big news…yet. Sears Holdings is closing 12 underperforming stores – eight of them Kmart units and four of them Sears location.
We know, this is an extremely small number in comparison to the 3,800 the company owns across the country. But how long will it take before we see mass closures?
Things are bad for retailers that have performed historically well over the last few years, but sales have been down at the Sears-Kmart chains for a while now. Way down. Plus, its stock closed yesterday at $53.42, down from its 52-week high of $139.40.
When Sears and Kmart merged a few years ago, many people were saying that it was a real estate deal. Well, the company has kept on operating without many big changes. Do you see any in the future?