Sears Holdings said this week it's shuttering 46 more stores in November. The locations are spread across the United States. Liquidation sales at 33 Sears stores and 13 Kmart locations are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings at other nearby stores. Sears said in January it was planning to shut more than 100 stores. It then announced another round of roughly 100 store closures in May.
Total Retail's Take: Sears continues to take efforts to cut costs, primarily by shuttering brick-and-mortar stores. The company's dire financial state — sales and profits have been in significant decline for years — leaves many analysts wondering how long it can survive. CEO Eddie Lampert, through his hedge fund ESL Investments, has invested hundreds of millions back into Sears Holdings and currently has a bid out for the Kenmore appliance brand, but one has to wonder how long that will continue if he doesn't begin to see return on his investments. For now, 46 stores will close, and Sears continues to search for a turnaround. Only the most optimistic Sears stockholder can be hopeful about the company's future at this point.