Sears/Kmart to Close 30 Additional Stores, One in Michigan
Sears and Kmart, who earlier this year announced they'd shudder 150 stores across the US, have added 30 additional stores to their hit list, including two stores in Southeast Michigan.
Amazon. That's the short answer to your question.
Sears hasn't turned a profit since 2010, and USA Today reports it lost $2.2 billion last year. Sears and Kmart, as well as retailers like JC Penny and Macy's, who announced store closings this year, note that they are losing market share to Amazon and other online retailers.
"Market share will be up for grabs. As Sears closes stores...there will be market share for department stores to take advantage of. However, we do note that Amazon is, of course, a worthy contender for capturing the majority of this share," wrote Oliver Chen of Cowan and Co. in a note to investors.
Here are the additional Kmart and Sears locations scheduled to close their doors in July:
- 803 Martin Street S., Pell City, Alabama
- 2222 E. Lincoln Ave., Anaheim, California
- 1460 W. 49th St., Hialeah, Florida .
- 424 Dairy Road, Kahului, Hawaii
- 715 W US Highway 30, Carroll, Iowa
- 2660 Hylan Blvd., Staten Island, New York
- 950 Ridge Road, Webster, New York
- 4480 Indian Ripple Road, Dayton, Ohio
- 1 Millbrook Plaza Lane, Mill Hall, Pennsylvania
- 300 Lincoln Ave, East Stroudsburg, Pennsylvania
- 176 W Street Road, Feasterville, Pennsylvania
- 1011 Scranton Carbondale Hwy., Scranton, Pennsylvania
- 1801 Hydraulic Rd, Charlottesville, Virginia
- 494 Elden St., Herndon, Virginia
- 17911 Pacific Ave., S. Spanaway, Washington
- 1837 Street Road, Bensalem, Pennsylvania
- 16881 Conneaut Lake Road, Meadville, Pennsylvania
- 33400 W. Seven Mile Road, Livonia, Michigan
- South Bay Pavilion, 20700 S. Avalon Blvd., Carson, California
- Westfield UTC, 4575 La Jolla Village Drive, San Diego, California
- 4250 Cerrillos Road, Santa Fe, New Mexico
- 290 Providence Highway, Dedham, Massachusetts
- Northwoods Mall, 7801 Rivers Ave., North Charleston, South Carolina
- Aventura Mall, 19505 Biscayne Blvd., Miami, Florida
- Valley View Mall, 13131 Preston Road, Dallas, Texas
- 3199 N White Sands Blvd., Alamogordo, New Mexico
- Monroe Crossing Mall, 2115 Roosevelt Blvd., Monroe, North Carolina
- 273 Madonna Road, San Luis Obispo, California
- 5415 N.E. Antioch Road, Kansas City, Missouri
- Provo Towne Centre, 1200 Towne Centre, Provo, Utah