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Wed Dec 28, 2011, 06:37 AM

Sears Holdings Corp. plans to close between 100 and 120 Sears& Kmart stores

NEW YORK Sears Holdings Corp. plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holidays, the most crucial time of year for retailers.
The closings are the latest and most visible in a long series of moves to try to fix a retailer that has struggled with falling sales and shabby stores.
In an internal memo Tuesday to employees, CEO and President Lou D'Ambrosio said that the retailer had not "generated the results we were seeking during the holiday."
Sears Holdings Corp. said it has yet to determine which stores will close but said it will post on http://www.searsmedia.com when a final list is compiled. Sears would not discuss how many, if any, jobs would be cut.
The company has more than 4,000 stores in the U.S. and Canada. Its stock fell $7.88, or 17 percent, to $37.97 in premarket trading.

http://www.msnbc.msn.com/id/45795148/ns/business-retail/#.Tvr_DJhgPFs

And the economy is doing what?

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Reply Sears Holdings Corp. plans to close between 100 and 120 Sears& Kmart stores (Original post)
Sherman A1 Dec 2011 OP
liberal N proud Dec 2011 #1
Sherman A1 Dec 2011 #2

Response to Sherman A1 (Original post)

Wed Dec 28, 2011, 07:42 AM

1. They know which stores are going to close.

It is a bullshit statement, saying they have not determined which stores will close. The studies have been done, the bean counters are finished and the list has been made.

All they are doing is causing undo stress on all their employees, torturing them with a mind game. Our company did this with two of our production facilities last year, many of us knew which one would close but were not allowed to even communicate with either facility.

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Response to liberal N proud (Reply #1)

Wed Dec 28, 2011, 07:47 AM

2. Certainly they do

in perhaps a very, very few cases some might be right on the bubble, but the vast majority are long ago decided. I also suspect that this decision overall was made well before the holiday season and this is simply the time to announce it. If you are going to close 100+ stores, it takes time to make those decisions and that is simply not done overnight.

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