Sears Holdings, owner of the perpetually troubled retailer power couple Sears and Kmart, has released the locations of 80 out of the 100 to 120 “under-performing” stores that will close in the coming months. Most of the stores on this first list are in the southern and midwestern U.S.
Here’s the the list as an embedded document, and you can also download the PDF directly.
Looking at the Sears Holdings statement on the closings, a few bullet points stand out to us from a consumer advocacy point of view. Here are two of the cost-cutting measures they mention:
- Excluding the effect of store closures, we currently expect to reduce 2012 peak domestic inventory by $300 million from the 2011 level of $10.2 billion at the end of the third quarter as a result of cost decreases in apparel, tighter buys and a lower inventory position at the beginning of the fiscal year.
- Focus on improving gross profit dollars through better inventory management and more targeted pricing and promotion.
Consumerist readers love to visit Sears and Kmart when they have great deals and when Sears offers site-to-store shipping: if they can get that “inventory control” thing nailed down, maybe we can stop using the “Sears needs personal space” tag so frequently. Then they just need to fix the dingy stores, indifferent employees, and…
Sears Holdings Provides Update [Press Release]
Store Closings 12/27/11 [Sears Holdings]
Sears To Shutter 100 To 120 Sears & Kmart Stores After Disappointing Holiday Sales
Sears Lost $421 Million Last Quarter, Didn’t Spend It Fixing Up Stores