Some Underperforming Kmart Stores are Closing
Macy's, the department stores chain hit the headlines with news that it is closing forty of its stores. Finish Line, the shoe retailer also said that it is planning shutter hundred and fifty stores by 2020. But the news of Sears Holdings, which is the corporate parent of Sears and Kmart, planning to shut down some of its outlets did not attract much attention.
Sears Holdings is planning to shutter three Kmart stores in California. In the last five years, Sears Holdings has actually closed many of its stores.
Sears Holdings closed many of its stores without making much hue and cry about it nationally. It actually had too many stores some of which were too large for present requirements. However, shuttering stores involve job losses which are a terrible thing to happen. It can also cause inconvenience for its customers. There is no way out, but closing stores when they underperform. At least that helps the business survive.
On Wednesday, Howard Riefs , the Sears Holdings Director of Corporate Communications said in an emailed statement, Kmart store located at 1651 E. Chestnut St. in Canton will shutter for the public sometime in the mid-April.
He said, "Until then, the store will remain open for customers. The store will begin its liquidation sale on Jan 24. Store closures are part of a series of actions we're taking to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model."
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain
- TenneT adds more electric BMWs to study use of EVs to support power grids