Tuesday, October 16, 2018

As Sears goes bankrupt, JC Penney, Walmart and others set to benefit

CNBC
With Sears Holdings filing for bankruptcy protection and planning to shutter another 142 stores before year-end, that leaves some market share up for grabs among the retailers' rivals, especially those in the business of selling appliances and tools.

Though the department store chain has been teetering on the brink of collapse for years already, its Sears and Kmart divisions still recently had about $14 billion in sales annually. Despite shelves that have been increasingly barren, customers still ventured to stores for well-known brands like DieHard and Kenmore. . . . more