Two Louisiana Kmart, Sears stores among closures nationwide; see locations

Jermaine Castillo
June 3, 2018

Sears Holdings closed its Kmart location at 180 Main St.in Saugus on earlier this month.

The exact closing date and start of liquidation sales was not announced, but the company indicated they could begin by June 14. Sears Holdings has closed several hundred struggling locations in recent years. "Sears is really a real estate company".

The Staenberg Group envisions an open-air, high-end mixed-use project with residential, office, retail, restaurant, theater, health club and supermarket components.

The Illinois-based retailer had previously announced that 166 stores would close this year. Bidding for each those stores ended May 22 and it's unclear if a buyer emerged.

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This isn't the first time Sears has sold off a brand name it made famous.

In the same quarter a year ago, Sears posted earnings per share of $2.29 on revenues of $4.2 billion.

The release said recent store closures contributed to almost two thirds of the decline.

The company posted $245 million in net income during the same period previous year.

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Sears Holdings Corp. announced the Flint Township store is among 72 Sears and Kmart stores that will close soon.

But to meet customer needs and improve financial results, Sears must close poorly performing stores and “focus on our best stores, including our newer smaller-store formats, ” he said, according to a transcript of the call.

Sears has not given information about how many employees are at the Sanford store. "By diminishing the quality of the in-store experience, Sears has basically trained consumers to avoid going inside".

Washington Prime might pursue a similar strategy with the Sears property at Cottonwood, which Sears owns, said Ben Perich, a senior commercial broker at Collier's global in Albuquerque. That was after it had sold off the Sears Craftsman brand and as it looks for a buyer for its Kenmore appliance brand.

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The network says store closures are actually part of the problem, as two-thirds of the sales issues the company saw in the last quarter are connected to shutdowns.

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