Sears is Closing 72 More Stores by September
Sears Holdings Corp. is closing 72 stores, in addition to the 180 closings it already announced earlier this year. Business Insider reports the company released a list internally on Tuesday of the new closings, which include 16 Sears stores, 49 Kmart stores and seven auto centers. The stores are estimated to be closed by September 2017. The most recent closings will leave Sears Holdings Corp. with approximately 1,200 locations.
Total Retail's Take: Sears is taking extreme measures to ensure its continued existence. Downsizing its physical store footprint will yield cost savings for the department store retailer. In addition to a crowded retail marketplace, Sears has struggled to compete with other home improvement stores, such as Lowe's and Home Depot, as well as e-commerce giant Amazon.com.