Name: Sears Is Closing Almost 80 stores
Uploaded: 2016-04-22
Duration: 1 min 2 s
Description: That's about 5% of its retailers.

Sears Is Closing Almost 80 stores

Sears Holdings Corporation will close almost 80 stores as part of a push to make the company more profitable again. The closings will include 68 K Marts and 10 Sears stores. That accounts for about 5% of its store base, which is nearly 1700 stores in 2011. The company was operating 4000 stores. The Illinois based company said in February it would accelerate the closing of unprofitable stores following a challenging holiday season. Most of the stores will be closed by late July, Edward Lampert, chairman and CEO of Sears Holdings, said in a statement. We're focusing on our best members are best categories and our best stores as we work to accelerate our transformation. Sears Holdings has struggled for years with weakening sales and has been unable to keep up with companies that sell appliances like Home Depot or general merchandise like Walmart and Amazon. Sears is also shifting away from its focus on running a store network into a member focus business. Loyal shoppers receive incentives to buy, but those moves appear to not have gained much traction with shoppers