Sears, Kmart To Close At Least 100 Stores After Dismal Holiday Sales

LOS ANGELES (CBS) — Roughly 100 to 120 Sears and Kmart stores are closing after a dismal holiday season.

While several retailers reaped record profits, sales fell 4.4 percent at Kmart stores and six percent at Sears during the eight weeks leading up to Christmas.

Kmart blames diminished layaways, while Sears cites lackluster consumer electronics and home appliance sales.

The closings will generate up to $170 million in inventory sales.

Sears hasn’t revealed which of its Southland stores will be closing.

“Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business model,” CEO Louis D’Ambrosio said. “These actions will better enable us to focus our investments on serving our customers.”

  • Fred

    Bring back the Sears Catalog!

  • JMHO55

    Sears has horrendous customer service. They lost my business over 20 years ago because of it. I did business with them recently out of desperation (couldn’t find what I needed anywhere else) and found the same horrendous customer service — and won’t be back. I talk to numerous people who similarly don’t shop Sears because of their incompetence, rudeness, and overall lack of a service mentality. That is what is killing their business, and I see no hope of it ever being corrected.

  • Patriot

    Wow bought a part from sears a week ago. They gave me the wrong part. Today tried to exchange the part, but because i didn’t have the receipt present they would not exchange the part (which actually cost more than the correct part). The counter salesperson told me without the receipt they would not exchange or refund the purchase. Meanwhile the demeanor and attitude of the counter salesman was as though I had stole the part (which is stored in their warehouse area) and was trying to pull a scam on them. When I brought the part back with the receipt the same attitude existed, I asked to speak with his manager and when the manager came out his response was nearly identical. I then decided Sears did not deserve my business and requested a refund and was told to provide my name and address and they would send me a check usually within 5-7 days. I stated I paid cash for the part and I wanted cash back, the manager said well Sears only has $25.00 cash to offer for a refund otherwise it must be in the form of a check. I exchanged the part for the correct part and then went on line to try and contact somebody about getting a refund and returning the part. After speaking with 3 on line chat personnel and 2 customer service reps via the phone and 3 hours later I was basically told if I kiss the managers ass he might refund my money. Well I am disgusted with Sears and the corporations in this country and Sears will never ever earn nor see any business from me. In fact they shall receive my scorn and most discouraging advise to others to stay clear of Sears. One might also note the part they had was not made in the United States, as well neither are most of the products they offer for sale. This in itself only brings to point that Sears is no longer a truly American Corporation, but a corporation of greed which would prefer to employ foreign workers to manufacture & assemble products, than it would to employ Americans. Therefore, I encourage all those who are patriotic and believe in this great nation to support America and boycott the Sears of this world.

  • herecomes2011

    I know 3 folks including us who bought new refrigerators, we bought a new larger microwave and a new answering machine also “ALL ABSOLUTELY JUNK”none worked properly, problems with all. We had quite afew techs out trying to fix the problems with the refrig, no luck it took to da-n long for them to come pick them up , also every single worthless item was made “OUT OF THE COUNTRY” Mexico and China, clothing looks like cra-p also, same at Target, the cheapest looking clothing for women and girls, wash it once and it it looks like its worn out. The mens clothes not to bad but womens and girls clothes disgusting. it would be nice if we could find a bra that actually fits for a change, grrrrrrrrrrrrrrrrrrrrrrrr. Made in Mexico they are to big and made in China they are to small grrrrrrrrrrrrrr.

  • Jon Sykes

    Sears is terrible in customer service, as well as other America’s chain stores, yup even Target, but it is not about Made in xxxxx etc. It is about how the company treat its customers, shopping experience, no matter where is made. We want jobs here, but then the price would go up and only a few of us could afford. Products outsourced will be cheaper and affordable, but then we complaint. We cannot have it both ways, it does not work that way. We are a country of complainers. We are consumers and certainly not producers, so stop ur whining.

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