Thursday, August 24, 2017

Sears to shutter another 28 locations, as same-store sales tumble 11.5%

Image result for kmart closingSears reported a narrower-than-expected loss but said sales continued to erode. The retailer posted a double-digit decline in comparable sales for the second quarter, citing a "retail environment [that] remained challenging, with continued softness in store traffic and elevated price competition."

The department store chain also announced plans to close 28 more Kmart stores this year. That's in addition to the 180 Sears and Kmart stores it has shuttered this year, and the 150 stores it plans to close by the end of the third quarter.. . . more

No comments: