• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As U.S. Treasury intervened in the bond market, the Netherlands rushed 86 tons of gold out of America because of ‘geopolitical unrest’

2

Current price of silver as of Thursday, September 3, 2026

3

'Critical employees will begin to retire': Trump’s new pay plan will deny most federal roles a raise, and it has workers warning of a retention crunch

1

As U.S. Treasury intervened in the bond market, the Netherlands rushed 86 tons of gold out of America because of ‘geopolitical unrest’

2

Current price of silver as of Thursday, September 3, 2026

3

'Critical employees will begin to retire': Trump’s new pay plan will deny most federal roles a raise, and it has workers warning of a retention crunch
Retaildepartment store

Sears Is Closing Another 103 Stores

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
January 4, 2018, 4:33 PM ET
Google source logo
Add Fortune on Google for similar content.

Here we go again.

Sears Holdings (SHLD) said on Thursday it was closing 103 more namesake and Kmart stores this year in the umpteenth round of store shutterings in the last two years. The retailer told employees in a note posted to its web site it was closing 64 Kmart locations and 39 Sears stores. The latest announcement comes only two months after Sears’ most recent store closing news, which followed a spate of such announcements earlier in 2017. The company has closed hundreds of locations in the last few years.

The retailer, whose comparable sales declines have worsened in recent quarters despite the elimination of so many weak stores, has said repeatedly it is trying to reinvent itself as a company less reliant on physical space. In its most recent quarter, Sears Holdings said comparable sales fell 17% at its namesake stores and 13% at Kmart. It was the 24th quarter of comparable sales declines in a row for the company.

“We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” the company said in a statement. The liquidation sales will start on January 12 and the stores are set to close between early March and early April.

The company has lost more than $10 billion in the last six years, putting enormous strain on its finances and prompting it to sell some of its best assets in recent years and look for new sources of revenue such as its recent moves to sell its Kenmore appliances and DieHard batteries on Amazon.com.

While Sears CEO Eddie Lampert, the hedge fund manager who engineered the merger of Sears and Kmart in 2005, has lamented the difficult state of retail, his company has dramatically underperformed rivals like Macy’s (M) and J.C. Penney (JCP). Those chains reported sales growth for the key November and December period. (Sears does not provide an intra-holiday quarter update typically.)

Sears shares were down 4% on Thursday and are about 75% off 52-week highs.

For a list of the stores closing, please see Sears Holdings’ list.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon
Google source logo
Add Fortune on Google for similar content.

Latest in Retail


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Retail


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.