Store Closings announced for 80 Sears and Kmart Locations

Clearance sign - BSN

(Best Syndication News) - Sears Holdings Corporation (NASDAQ:SHLD) announced 80 of the 100 – 120 Sears and Kmart stores that are going to be closed. The company did not specify the date they will close each store at this time.

Each store has around 40 – 80 employees, and this could vary depending on the location. The amount of jobs lost from this downsizing could be anywhere between 4,000 and 9,600 positions.

The store closures announced are in 25 states throughout the continental US. The states involved with the 80-store closings are: Alabama, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maryland, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin.

California locations include the Sears Grand / Essentials stores in San Diego – Claremont, San Diego – Carmel, and El Monte locations.

Florida will have many stores closed in this downsizing. Sears Grand/Essential Stores in Deland, Stuart, West Palm Beach, Port St. Lucie will be closed. The Sears Full line stores in Crystal River will close. Kmart stores in Fernandina Beach, Callaway, New Smyrna Beach, St. Augustine, Orange City, and Pompano Beach will also be closed.

Sears (NASDAQ:SHLD) shares are trading around $32 today, which is near their 52-week low. The price tumbled after the company announced lower sales during the holiday season and for the entire year. The 52-week range has been $31.94 - $94.79. The trading volume has been slower today at 880,208 shares compared to the average of 1.49 million.

The list of Sears and Kmart store closures is available at http://searsholdings.com/about/122711_close.pdf. The company will add more stores and give closing dates as this information becomes available.

By: Dave Reddy

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