Sears Closes 20 More Stores
Sears Holdings Inc. is closing another 20 stores on top of recently announced closings, bringing to total store closures to 260 this year. The latest closures include 18 Sears stores and two Kmart locations, according to a regulatory filing on Friday by real estate investment trust Seritage Growth Properties, which was spun off by Sears in 2015. These stores will start liquidation sales by June 30 and be closed by mid-September. "We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors," the company said in a statement.
Total Retail’s Take: This is hardly shocking news. Sears has been shuttering stores regularly since 2015, when it closed 53 stores. In 2016, it closed 240 stores. However, there is some good, or at least intriguing, Sears news to report: the company announced the opening of a Sears Appliances and Mattress store in Pharr, Texas. This first-of-its-kind store for Sears showcases appliance brand Kenmore and mattresses from other well-known labels, the retailer said. Plans are also underway to open additional Sears stores dedicated to these two categories — what Sears is calling "two of its strongest." Even though this store is branded as only selling mattresses and appliances, Sears said shoppers can order any item from the company's website and pick it up at the new store as well. Last year, Sears introduced a similar store concept in Fort Collins, Colo., selling only appliances.This latest launch in Texas is a bid to replicate the success Sears has seen in Colorado, the retailer said, adding the Colorado store has "surpassed projections since its opening."