Expect to see another 20 Sears and Kmart stores close as the parent company, Sears Holdings, plans to send several other stores to retail’s graveyard. On Friday, Sears Holdings announced 20 locations on top of the recently announced closings, bringing to a grand total of 260 for this year, as the business struggles to deal with years of retail sales decline. The latest store closings include 18 Sears stores and two Kmart locations.
These stores will begin liquidation of their starts by June 30 and closed by mid-September, Sears announced in a statement.
“We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors,” the company said.
It is important to note that last month Sears Holdings reported sales dropping by nearly 12% at stores open at least a year in the first there months, doing considerably worse than other retailers.
Sears announcement is just one of hundreds of retail stores facing a downward trend in the retail business industry. In fact, Sears, J.C. Penny, Macy’s and other major chains have announced store closures.
This news comes after Amazon announced ‘Prime Wardrobe,’ which could disrupt the fashion industry. The new style platform is similar to Trunk Club and Stitch Fix. That said, Amazon Prime’s Prime Wardrobe will include brands like Adidas, Calvin Klein, Levi’s and Hugo Boss. Also, Prime Amazon will deliver shipments in a resealable box along with a prepaid shipping label. Amazon says their goal is to make it easier for shoppers.