Local Retailers Wait Following Sears Closure Announcement (Updated 12/29)

Local Retailers Wait Following Sears Closure Announcement (Updated 12/29)

The announcement by Sears Holdings that they plan to close more than 100 Kmart and Sears stores following another down Christmas sales season has left local retailers across the country waiting for the announcement on which stores will get the axe – and that includes Sheridan's stores.

A manager at Kmart in Sheridan said they had “no idea” about the Sheridan department store's status, and calls were directed to Sears corporate communications office.

Just two days after Christmas, on Tuesday, Sears announced that their holiday sales this year were down enough to require the closures.

Sears has reportedly lost money in five of its last six months, and in November released the report that said they have experienced 19 straight quarters of declining sales. The decision to close stores could potentially make the company $140 to $170 million when they sell inventory at fire-sale prices.

Of course the 100 to 120 closures may not include any in the area; we'll keep you posted as decisions are made.

Update: No stores in Wyoming will be closed, according to the list of stores released on Sears' website Thursday. In the release, Florida would lose 11 stores followed by Michigan, Ohio and Georgia with six each. The list contains 79 across the U.S. View the file of the specific closures through Sears' website by clicking here.

Carrol Realty
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