Sears holdings has announced that they will be closing 100 to 120 K-Mart and Sears stores across the country in an effort to reduce operating expenses.
No word yet on which, if any, Inland Empire stores will be impacted. Final determination of the stores to be closed has not yet been made. The list of stores closing will be posted at www.searsmedia.com when available.
In a statement on Sears’ website, it’s been indicated that they will carefully evaluate store performance going forward and act opportunistically to recognize value from poor performing stores as circumstances allow. While past practice has been to keep marginally performing stores open while working to improve their performance, Sears no longer believes that to be the appropriate action in this environment. Sears intends to accentuate their focus and resources to better performing stores with the goal of converting their customer experience into a world-class integrated retail experience.
In regards to the store closings and an announcement of focusing on improved inventory management, Chief Executive Officer Lou D’Ambrosio has said “These actions will better enable us to focus our investments on serving our customers and members through integrated retail - at the store, online and in the home.”
Tuesday, December 27, 2011
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