While Macy’s and J.C. Penney reported high holiday sales, it wasn’t enough to keep them from closing stores and cutting jobs. Kmart also has announced they were closing unprofitable K-Mart and Sears stores.
Many of the stores are here in South Florida. Following are some of the headlines and lists of store closings.
Reuters: Sears Holdings to close 103 Kmart and Sears stores
Sears Holdings Corp (SHLD.O) said on Thursday it was shuttering 103 unprofitable Kmart and Sears stores as it continues to streamline operations amid mounting debt and a string of quarterly losses.
Clark.com: These major retailers are closing 1,000 stores in 2018
2018 retail closings: What you need to know
If you happen to receive a gift card for any of the retailers on this list, money expert Clark Howard wants you to spend it right away in case your local store is on the chopping block.
“If you have any gift cards for major retailers, I want you to go and shop. I want you to use them up,” Clark said.
The following list of major retailers closing stores in 2018 is only expected to grow as the year goes on. Here’s where things stand right now:
Washington Post: Two big retailers report higher holiday sales but now they must survive this harsh winter weather.
It has been a tumultuous few years for the nation’s department stores, but a solid holiday season has provided at least a temporary reprieve for some as shoppers stocked up on home goods, clothing and beauty products.
But now, major retailers are facing a new hurdle: The weather. On Thursday, the same day that Macy’s and J.C. Penney reported better-than-expected holiday sales growth, much of the East Coast was blanketed in snow and ice, leading to hundreds of school closures and workplace delays. Consumers who might have otherwise shopped at the local mall were hunkered down indoors, keeping tabs on their children, shoveling their driveways or preparing for power outages.
CNBC: Here’s a map of where Sears’ and Macy’s stores are going dark
With the 2017 holiday season behind it, two of America’s biggest department store chains, Macy’s and Sears Holdings, unveiled which locations they will be closing next — adding up to more than 100.
These companies have had an especially rough ride in recent months, as they work to right-size their overwhelming real estate footprints against a backdrop of Amazon stealing market share and more brands marketing themselves directly to consumers, bypassing department stores altogether.