Sears to close 43 more stores


Business News - Opportunities - Reviews



Another 8 Sears, 35 Kmart stores to close down – Jul. 7, 2017

‘; var storytext = document.getElementById(‘storytext’); var heightToSkip = 0; function resetValues() { totalHeight = 0; targetChildElement = null; } if(storytext == null) { console.log(“Error finding storytext element for SA embed”); return; } for ( i = 0; i 0) { heightToSkip -= storytext.childNodes[i].clientHeight; resetValues(); } else if(heightToSkip minHeight && targetChildElement != null) { //console.log(“total height = ” + totalHeight); //console.log(“childNode = ” + targetChildElement); storytext.childNodes[targetChildElement].insertAdjacentHTML(‘afterend’, smartAssetDiv); smartasset = document.getElementById(‘smartasset-article’); = ‘left’; // allows module to have text float to right =’20px’; =’25px’; //console.log(storytext.childNodes[targetChildElement]); //SMARTASSET.setDivIndex(targetChildElement); SMARTASSET.setSmartAssetScript(); /* bail out since we’re done */ break; } } /* div with id=”smartassetcontainer”. Sanity check to only embed once */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “smartassetcontainer”) { break; } /* div with id=”ie_column” */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “ie_column”) { resetValues(); } /* embeds from twitter, facebook, youtube */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(’embed’)) { resetValues(); } /* cnn video player */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(‘cnnplayer’)) { resetValues(); } /* images */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘img’) { resetValues(); } /* images stored in figure tags */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘figure’) { if(storytext.childNodes[i].clientWidth

With the newest round of closings, Sears Holdings is poised to close down about 20% of its locations.

The company said in a blog post that the store closures are part of an ongoing effort to “focus on our best stores and return to profitability.”

“This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs,” Chief Executive Officer Eddie Lampert said in the post.

Retail bloodbath: Bankruptcy filings pile up

Sears said it is focusing on bolstering digital sales and is also testing out small, specialized “concept stores” that offer Sear’s best-selling items.

Streamlining its retail footprint is part of an effort to restore vendors’ confidence in Sears, the company said. Some vendors have “reduced” their support for the company over the past year — “thereby placing additional pressure on our business,” according to the blog post.

Once America’s largest retailer, the company has struggled to stay afloat as customers turn away from traditional brick-and-mortar stores to shop online.

Sears warned in March that the company has “substantial doubt” about its ability to remain in business. Its losses have surpassed $10 billion since 2010, the last time it turned a profit. Sears Canada, which Sears Holdings spun off in 2012, filed for bankruptcy protection last month.

Sears closed 240 stores last year and 53 in 2015.

It’s hardly the only retailer to be experiencing such woes.

Related: Department stores have lost more jobs than coal mines

Other department stores like Macy’s and JCPenney have announced layoffs and store closures over the past few months.

There have been about 5,300 store closing announcements so far this year, according to retail think tank Fung Global Retail & Technology.

CNNMoney (New York) First published July 7, 2017: 3:36 PM ET


Business News - Opportunities - Reviews



Leave a Reply