WILL: In retreat, Sears set to unload its stores
March 21, 2012 in The Daily Republic
Richard Warren Sears moved to the nation’s railroad hub, Chicago, where in 1887 he met Alvah Curtis Roebuck, a watchmaker and printer. Rural life and retailing were about to change. Continue Reading
WILLMAR Willmar’s Kmart store in the Kandi Mall is on a list of stores slated to be closed by Sears Holdings Corp., the parent company of Sears and Kmart.
Sears Holdings Corp. announced Tuesday that it would close 100 to 120 Kmart and Sears, a move that is expected to generate $140 to $170 million of cash after selling the stores’ inventory. As of Dec. 25, Kmart sales were down 1.8 percent and Sears sales had dropped 3.3 percent for the year. A Thursday announcement included 79 locations that would be closed in 2012, including Kmarts in Willmar, New Hope and White Bear Lake in southern Minnesota.
NEW YORK (AP) After a disastrous holiday shopping season, the parent company of Sears and Kmart will close at least 100 stores to raise cash a move that sparked speculation about whether the 125-year-old retailer can avoid a death spiral fed by declining sales and deteriorating stores.
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