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Sears and Kmart will close more than 100 stores in 2012

submitted on December 27, 2011 by HouTex in "Stores / Merchants"

As a result of poor performance during the holiday sales period, between 100 and 120 Sears and Kmart stores will be closed in 2012.

In an internal memo Tuesday to employees, CEO and President Lou D'Ambrosio said that the retailer had not "generated the results we were seeking during the holiday."

Sears Holdings Corp. said it has yet to determine which stores will close but said it will post on http://www.searsmedia.com when a final list is compiled. Sears would not discuss how many, if any, jobs would be cut.


Read more - http://www.time.com/time/busin.....z1hmF34F5y

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  Comments
  • 137385
    clover
    professor
    1 6 7
    12 11 2
    Posted by clover on December 28, 2011 [reply] 0 0
    I am guessing they will close more stores in Orlando. There is one Kmart semi close to me but still a drive when I have a Supertarget & Walmart close by.
  • 137411
    laaya
    professor
    1 1 2
    11 8 2
    Posted by laaya on December 28, 2011
    [reply] 1 0
    New list of brands that will disappear in 2012, which includes Sears, Sony Pictures, American Apparel, Nokia, Saab, A&W All-American Foods Restaurants, Soap Opera Digest, Sony Ericsson, MySpace, and Kellogg’s Corn Pops.

    Read more: 24/7 Wall St. Ten Brands That Will Disappear In 2012 - 24/7 Wall St. http://247wallst.com/2011/06/2.....z1hqazR94L

    and also Kodak
    > CEO name (tenure): Antonio Perez (6 years)
    > YTD stock: down 79%
    > Latest quarter EPS: down 419% to $0.83 loss
    > Insider ownership: 1.8%
    > Key event: lurches toward Chapter 11
  • 137436
    psplove
    professor
    3 1 6
    11 9 2
    Posted by psplove on December 28, 2011 [reply] 0 0
    More people are getting layoff.
  • 137755
    pravallika
    master
    2 2
    8 4 1
    Posted by pravallika on December 30, 2011 [reply] 0 0
    Florida to lose 11 Sears or Kmart stores; Ohio, Michigan and Georgia will lose 6
    http://finance.yahoo.com/news/.....53249.html
      137765
    • clover
      professor
      1 6 7
      12 11 2
      Posted by clover on December 30, 2011 [reply] 0 0
      Bypassed Orlando!
  • 137779
    Telcom
    learner
    Posted by Telcom on December 30, 2011 [reply] 0 0
    None in MA...yet

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