Contact Us

Sears To Close 100 To 120 Kmart, Sears Stores

Sears
Tom Pennington/Getty Images

Between 100 and 120 Sears and Kmart stores are shutting down after terrible holiday sales during the most crucial time of the year for retailers.

Sears Holdings Corp., based in Hoffman Estates, Ill., says the store closings will generate $140 to $170 million in cash in inventory sales. The retailer anticipates additional proceeds from the sale or sublease of real estate holdings.

The stores to close have not yet been identified.

The retailer says that same-store revenue fell 5.2 percent to date for the quarter at both Sears and Kmart. Kmart’s declining sales were blamed on diminished layaways and a drop in clothing and consumer electronics sales. Sears’ cited lackluster consumer electronics and home appliance sales.

Sears has more than 4,000 stores in the U.S. and Canada with Sears locations at the Ocean County Mall, Monmouth Mall and Freehold Raceway Mall as well as Middletown. There are several Kmart stores in the Shore area including Toms River, Brick, Howell, Wall, Manahawkin and Hazlet.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wobm.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!