Biz: Blue light not-so-special: Sears, K-Mart locations closing due to falling sales
- 120 locations will close amid a longstanding decline source
- » Sales down across the board: Since K-Mart and Sears merged into one company back in 2005, sales have declined yearly, a trend that continued during this year’s all-important holiday season. (A holiday season, mind you, where things were actually looking positive for most retail chains.) At Sears, sales fell by 6 percent. At K-Mart, they fell by 4.4 percent. Together, that’s a 5 percent decline. The company has long kept underperforming stores open despite declining sales, but they’ve chosen to cut off dead weight this time, which has the potential of buoying the performance of the 2,000-plus U.S. stores and 500 Canadian stores between the two chains.