Sears is closing more Kmart and Sears stores.
The two stores are among 22 Kmart and six Sears stores being closed nationwide this fall. The closings follow an $86 million second-quarter loss on revenue of $10.6 billion that Sears Holdings reported last month. In its earnings report, the company identified all 28 stores being closed as "underperforming." None of the other 26 stores being closed is in Minnesota.The new closings are in addition to the closing of 13 Kmart stores and 11 Sears stores nationwide earlier this year.
However, by my count Sears has closed even more than 52 stores. Last October, it had announced it was going to close 12 stores in 2009. Later, it announced plans to close eight more stores this year. Then in February it announced 24 more closings.
Overall, that puts the full number of Sears and Kmart closings for 2009 at up to 72 stores, unless there are some overlaps between this and its earlier announcements.
The original plan, laid out in January 2008, called for cutting 13 percent of AnnTaylor staff at headquarters and closing 117 stores.Krill said on Thursday the company now plans to close an additional 30 stores, but aims to relocate those stores' best workers to other stores. Any job losses resulting from store closures are not included in the 160, Krill said.
She reiterated the company's plan to open 14 new stores this year.
In addition, last week both Samsonite and Pacific Sunwear announced closings last week. (Thanks to Jay Rickey for the alert on that.)
Numbers below have been updated.
Bankruptcies and Liquidations:
- Jan. 7, Goody's liquidates, closing 287 stores
- Jan. 8, Against All Odds files for bankruptcy protection, operates 64 stores overall, plans to close West Coast stores
- Jan. 13, Shane Co. files for bankruptcy, operates 23 stores
- Jan. 14, Gottschalks files for bankruptcy, operates 58 stores, Update: March 31, Gottschalks will liquidate
- Jan. 16, Circuit City to Liquidate, closing 567 stores
- Feb. 6, Fortunoff, operates 20 stores
- Feb. 6, Bruno's, operates 66 stores
- Feb. 12, S&K Famous Brands, operates 136 stores; Update: Feb. 19, plans to close 30. Update: May 26, plans to close rest.
- Feb. 17, Innovation Luggage, operates 10 stores
- Feb. 23, Ritz Camera, operates about 800 stores; Update, April 6, closing 300 camera stores and 120 Boater's World stores, Update, July 13, Liquidation possible
- March 6, Joe's Sports & Outdoor, operates 30 stores
- March 25, Bi-Lo, operates 215 stores
- April 13, Z Gallerie, operates 56 stores
- April 13, Ultra Stores, operates 181 stores
- May 5, Filene's Basement, operates 25 stores, sold 17 Update: Syms and Vornado buy the chain.
- May 28, Anchor Blue, operates 177 stores, closing 50
- May 29, Oilily, operates 33 stores, closed 8
- June 17, Eddie Bauer, operates 371 stores
- July 2, Crabtree & Evelyn, operates 126 stores
- July 13, Basha's, operated 163 stores, closed 5, closing 10 more
Potential Bankruptcies & Liquidation Impact: 1,541 confirmed closures out of about 3,185 stores
Announced Closings
- Jan. 8, New York & Co., 50 stores
- Jan. 8, Macy's, 11 stores
- Jan. 9, Supervalu, 50 stores
- Jan. 13, Cost Plus, 26 stores
- Jan. 20, Yankee Candle, 28 Illuminations stores
- Jan. 21, Filene's Basement, 11 stores
- Jan. 22, Phillips-Van Heusen, 175 stores
- Jan 22, Brown Shoe, up to 35 Famous Footwear stores
- Jan. 26, Home Depot, 48 stores
- Jan. 29, Starbucks, 200 U.S. Stores (plus 100 international), Update:Starbucks keeps 30 stores open.
- Jan. 29, Chico's, up to 25 stores
- Feb. 9, Talbots, 20 stores
- Feb. 24, Jimmy'Z, 11 stores
- Feb. 24, Z. Gallerie, 25 stores
- Feb. 25, Zale Corp., 115 stores
- Feb. 26, Gap, 50 net closings
- Feb. 27, Sears, 44 stores, Update: 28 stores
- March 3, Virgin Megastores, 6 stores
- March 6, Ann Taylor, 37 stores in 2009, 163 total by end of 2010; Update Augusut 3: 30 more stores in 2009
- March 18, Drug Fair, 11 stores
- March 23, Pier 1, 80 stores
- April 3, Rite Aid, 117 stores
- April 21, Kirkland's, up to 40 stores
- April 29, Jones Apparel Group, 225 stores
- June 8, J.Jill, 75 stores
- June 16, Ruehl, 29 stores
- July 9, Smith & Hawken, 56 stores
- Sept. 9, Samsonite, about 86 stores
- Sept. 9, Pacific Sunwear, 40 stores
Total Closings: up to 1,754 U.S. stores
Potential Impact of All Announcements to Date: 3,295 closures out of up to 5,139 potentially affected U.S. stores