Sears Closing 43 More Stores
Associated Press - July 7, 2017 3:17 pm
Struggling department store chain Sears is closing even more stores, including another one in Kansas, as it tries to turn around its business.
Sears Holdings Corp. CEO Eddie Lampert said in a blog post Friday that the company would close another eight Sears and 35 Kmart stores that are unprofitable by early October. Hundreds of store closings have already been announced this year.
The Sears store in Garden City is on the list to be closed in October. Earlier this Spricng the Sears store in Salina closed.
Sears had said in March that there was “substantial doubt” it could continue after years of bleeding money, though it has insisted that its actions to turn around its business should help reduce that risk. With more people shopping online, mall foot traffic has dropped.
Lampert noted Friday that Sears has opened smaller stores to attract customers and is on track to cut $1.25 billion in yearly costs.