The bad news keeps on coming for Sears Holdings Corp (NASDAQ:SHLD), which, after a tumultuous 2017 that saw dozens of stores closed by year’s end, has announced over a hundred new Sears stores closing in 2018. Sears Holdings’ unprofitable stores were the target in the latest culling, with 39 Sears locations being shutdown. Kmart stores closing in 2018 were also announced, adding 64 to that number. For specific locations, check the Sears Holdings stores closing list for 2018 at the bottom of this article.
“Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size,” the company wrote in a statement. “In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.”
On Thursday, November 2, associates at 45 Kmart stores and 18 Sears stores were made aware that their locations would be closing in late January 2018.
The growth of the Sears Holdings stores closing list in 2018 already is not much of a surprise to those who have been following the company’s trajectory over the past few years. The Sears stores closing list is expanding due to the company’s struggles to adapt to the industry’s focus on online shopping, which has done serious damage to many heavy hitters in retail.
The Kmart stores closing list is also likely to increase in 2018, as Sears Holdings has been searching out effective cost-cutting measures for much of 2017.
These aren’t even the first names to land on the Sears Holdings stores closing list for 2018. The company announced in November that dozens of additional stores would be shuttered in 2018 following the holiday season.
Sears Holdings store closings in March 2018 are expected. Which is to say nothing about the Sears Holdings store closings in April 2018 that are anticipated as well.
Sears Holdings’ Earlier Announcement of 63 Kmart & Sears Store Closures
The first locations added to the Sears Holdings stores closing list for 2018 were announced in early November, with 63 locations added to the Sears stores closing list. That number includes 48 locations added to the Kmart stores closing list.
These locations are part of the planned Sears Holdings store closings in January 2018, where these locations will be shuttered in the aftermath of the holiday season.
The company released a statement nearly identical to the one above following the announcement of the closures.
The company has long been mired in financial difficulty as debt has increased and revenue has flagged. While there is evidence that the cost-cutting measures are working in their efforts to bring the company back to profitability, as recent filings have shown a decrease in losses, the speed of this recovery has been slow.
As for the employees affected by these closures, thousands of full-time and part-time staff will now be without work. Sears has offered severance packages to those who qualify, while it is directing the newly laid off workers to apply to nearby locations.
Sears Holdings’ Bankruptcy Risk in 2018
As the Sears Holdings stores closing list for 2018 continues to grow, observers are wondering if the company will be able to right the ship or take on more drastic measures.
A Sears Holdings bankruptcy has been predicted by many different analysts over the past few years. The company has simply not been able to effectively adapt to the shift from brick-and-mortar locations to online shopping and naysayers have long since foretold of the company’s inevitable fall.
Sears Holdings’ debt surpassed $4.0-billion and the company experienced a 27.2% revenue plunge to $2.66 billion in its most recent quarterly report. The mass store closures, while saving the company money in the long run, have also impacted revenue and sales.
Sears Holdings’ revenue decline has put the company on the back foot. With the picture seemingly bleak and hundreds of stores already planned to close in early 2018, it’s safe to say that times are tough at the once dominant retailer.
Sears Holdings Stores Closing List for 2018
- Kmart 1 Kmart Plaza/State Hy 89 Cabot AR Early April
- Kmart 8701 West Mc Dowell Tolleson AZ Early April
- Kmart 750 West Deuce Of Clubs Show Low AZ Early April
- Kmart 301 Gardner Field Road Taft CA Early April
- Kmart 8017 South Atlantic Avenue Cudahy CA Mid‐March
- Kmart 1670 East 4Th Street Ontario CA Early April
- Kmart 1570 W Branch Street Arroyo Grande CA Early April
- Kmart 2685 Hilltop Drive Redding CA Early April
- Kmart 3020 N Nevada Street Colorado Springs CO Early April
- Kmart 1002 East Hwy 50 Clermont FL Early March
- Kmart 10301 S E Us Hwy 441 Belleview FL Early April
- Kmart 3711 E Silver Spring Blvd Ocala FL Early April
- Kmart 430 Northside Drive East Statesboro GA Early April
- Kmart 2525 Dawson Road Albany GA Early April
- Kmart 950 Sunset Blvd Jesup GA Early April
- Kmart 2501 N Broadway Street Red Oak IA Early April
- Kmart 7501 Hickman Road Urbandale IA Early April
- Kmart Route 149 West West Frankfort IL Early April
- Kmart 3404 Broadway Street Mt. Vernon IL Early April
- Kmart 1321 Sandy Hollow Road Rockford IL Early April
- Kmart 5101 E Thompson Road Indianapolis IN Early April
- Kmart 3175 West 3Rd Street Bloomington IN Early April
- Kmart 4830 S Broadway Street Wichita KS Early April
- Kmart 2440 Lone Oak Road Paducah KY Early April
- Kmart 3555 Highway 190 Mandeville LA Early April
- Kmart 1647 Crofton Centre Crofton MD Early April
- Kmart 301 Tilghman Road Salisbury MD Early April
- Kmart 67300 Main Street Richmond MI Early April
- Kmart 205 South Greenville W Drive Greenville MI Early April
- Kmart 1700 Cedar Street Helena MT Early April
- Kmart 3300 Harrison Avenue Butte MT Early April
- Kmart 706 E Dixon Blvd Shelby NC Early April
- Kmart 2515 Horner Blvd Sanford NC Early April
- Kmart 395 Westgate Plaza Road Franklin NC Early April
- Kmart 175 Freedom Way Midway Park NC Early April
- Kmart 815 East Innes Street Salisbury NC Early April
- Kmart 701 5Th Avenue Se Devils Lake ND Early April
- Kmart Milton Road Rochester NH Early April
- Kmart 1235 S 2Nd Street Raton NM Early April
- Kmart 2100 E Tucumcari Blvd Tucumcari NM Early April
- Kmart 4500 North Rancho Drive Las Vegas NV Early April
- Kmart 2671 Las Vegas Blvd N North Las Vegas NV Early April
- Kmart 57 Centre Drive Plattsburgh NY Early April
- Kmart 2100 Niles Cortland Road Se Warren OH Early April
- Kmart 4010 W Owen Garriott Road Enid OK Early April
- Kmart 1025 Washington Pike Bridgeville PA Early April
- Kmart 2900 N Elmira Street Sayre PA Early April
- Kmart 463 N Enola Rts 11 & 15 Enola PA Early April
- Kmart 5050 Jonestown Road Harrisburg PA Early April
- Kmart 5 Laurel Mall Hazleton Township PA Early April
- Kmart 1874 North Twp Blvd Pittston PA Early April
- Kmart 2235 East State Street Hermitage PA Early April
- Kmart 3301 Aramingo Avenue Philadelphia PA Early April
- Kmart 491 Allegheny Blvd Franklin PA Early April
- Kmart 650 Old Willow Avenue Honesdale PA Early April
- Kmart 190 Cumberland Square Crossville TN Early April
- Kmart 230 Longhollow Pike Goodlettsville TN Early April
- Kmart 1317 Tusculum Blvd Greeneville TN Early April
- Kmart 1400 Wildcat Drive Portland TX Early April
- Kmart 2 Diamond Run Mall Rutland VT Early April
- Kmart 1201 N W Louisiana Chehalis WA Early April
- Kmart 5636 U S Route 60 E Huntington WV Early April
- Kmart 102 Emily Drive Clarksburg WV Early April
- Kmart 1477 Maccorkle Avenue St Albans WV Early April
- Sears* 5900 Old Seward Hwy Anchorage (Sur) AK Early April
- Sears* 1679 W Lacey Blvd Hanford CA Early April
- Sears 24137 Valencia Blvd Santa Clarita CA Mid‐March
- Sears 9000 Northgate Mall San Rafael CA Early April
- Sears* 100 Brea Mall Brea CA Early April
- Sears* 100 Westminster Mall Westminster CA Early April
- Sears 5540 Winfield Blvd San Jose CA Mid‐March
- Sears* 3240 Kirkwood Hwy Wilmington DE Early April
- Sears* 5900 West Glades Road Boca Raton FL Early April
- Sears† 2930 Watson Blvd Centerville GA Early April
- Sears 2060 Crossroads Blvd. Waterloo IA Early April
- Sears* 200 W Hanley Ave Coeur D Alene ID Early April
- Sears† 1543 Poleline Road E Twin Falls ID Early April
- Sears* Orland Square Mall Orland Park IL Early April
- Sears† 1602 State Road 50 Bourbonnais IL Early April
- Sears 3000 W Deyoung Street Marion IL Early April
- Sears* 1100 S Green River Road Evansville IN Early April
- Sears* 1100 Middlesex Turnpike Burlington MA Early April
- Sears* 693 Stillwater Avenue Bangor ME Early April
- Sears 2700 State Street Bismarck ND Early April
- Sears* 1201 Hooper Avenue Toms River NJ Early April
- Sears* 195 N Broadway Hicksville NY Early April
- Sears† 1300 Ulster Avenue Kingston NY Early April
- Sears 6000 Glenway Avenue Cincinnati OH Early April
- Sears† 3030 Gateway Street Springfield OR Early April
- Sears 1260 Lloyd Center Portland OR Early April
- Sears* 1008 Ross Park Mall Drive Pittsburgh PA Early April
- Sears 7300 Bustleton Avenue Philadelphia PA Early April
- Sears* 1155 Carlisle Street Hanover PA Early April
- Sears 2200 N Maple Avenue Rapid City SD Early April
- Sears* 1000 Hwy #6 Houston TX Early April
- Sears^ 4511 North Midkiff Road Midland TX Early April
- Sears* 12625 N I‐H 35 Austin TX Early April
- Sears 1000 Newgate Mall Ogden UT Early April
- Sears 15711 Aurora Avenue N Shoreline WA Early April
- Sears 1701 S Commons Street Federal Way WA Early April
- Sears 121 Ne Hampe Way Chehalis WA Early April
- Sears† 1555 Green Bay Plaza Green Bay WI Early April
- Sears Brookfield Square Brookfield WI Mid‐March
“Store Closures (1/4/18),” Sears Holdings Corp, January 4, 2018.
“Sears is closing over 100 more stores,” CNBC, January 4, 2018.
“Sears is closing 63 more stores,” CNBC, November 3, 2017.
“Store Closures (11/2/17),” Sears Holdings Corp, November 2, 2017.