Retailer sites terrible holiday sales as reason
Houston — The Houston Chronicle is reporting; between 100 and 120 Sears and Kmart stores will be closed, the retailer said Tuesday, after terrible holiday sales during what is the most crucial time of the year for retailers.
Sears has yet to determine which stores will be closed, but there has been a clear shift in where the retailer will devote its resources.
The company is moving away from its practice of propping up "marginally performing" stores in hopes of improving their performance. Sears said it will now concentrate on cash-generating stores.
To read more on the pending closures, head to The Houston Chronicle's website: http://www.chron.com/business/article/Sears-to-close-100-to-120-Kmart-Sears-stores-2426485.php