REOC San Antonio
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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Sears is closing stores, what retailer will be next?

Sears may be the first retailer to say it’s closing stores post holiday season, but it certainly won’t be the last as 2012 will most certainly shake up the retail world.

Sears Holdings plans to close 100 to 120 Kmart and Sears full-line stores. Final determination of the stores to be closed has not yet been made, but the chain is looking to further reduce costs by $100 to $200 million.

To be clear, Sears Holdings, Kmart and Sears’ parent company, isn’t declaring bankruptcy. It’s announcing store closures, but it certainly doesn’t bode well.

Click to read full article: Sears is closing stores, what retailer will be next? (Forbes.com, 12-27-11)

Click to read press release announcement (PRNewswire, 12-27-11)

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