It appears to be finally happening. After poor holiday sales Sears Holdings will close 100-120 stores. The list of stores has not yet been released.
MSNBC Article
Sears Holdings Press Release
Sears, Kmart to shut 100-120 stores
Sears Holdings on Tuesday reported a sharp drop in holiday sales compared to a year ago, and said the results will force it to close 100 to 120 Sears and Kmart stores.
The stores to be closed have yet to be identified. The company is one of the nation’s largest retailers with more than 4,000 stores in the United States and Canada.
Sears Holdings said sales at stores open at least a year, known as same-store sales, tumbled 5.2% in the eight weeks leading to Christmas Day. That came from a 4.4% drop in sales at Kmart stores and a 6% slide in sales at domestic Sears stores.
