Two Kmarts to Close In Arizona

Sears Holdings, a US Holding company, is planning to close 2 Kmarts within Arizona, as well as other stores nationwide. The company owns both Kmart and Sears, and stores from each line are set to close. So far, the company seems to be primarily focusing on Kmart, to cut back costs. A total of 35 national Kmart stores are on the verge of being permanently shut down, whereas only 8 Sears locations thus far will be closed.

Sears Holdings Focused On Future Financial Gain
Eddie Lampert, CEO of Sears Holdings, recently blogged about the bold business move, saying that the key to future financial gain is to “focus on our best stores”.

The Kingman, Arizona (Andy Devine Ave.) Kmart, as well as a store in Phoenix (W Northern Ave.), will both be closing.


Eddie Lampert also expressed his belief, that many of Sears Holdings stores are simply too big to be profitable. In fact, some Kmart and Sears stores will receive remodelings, that will ultimately reduce their square footage. By closing some stores and remodeling others, while continuing to support the stores that have remained profitable, Sears Holdings hopes to trigger a “return to profitability” as Eddie Lampert put it. He also added that the company plans to open a few more smaller, yet effective stores, that could be modernly alluring to consumers.

Sears Experiencing Losses Due To Web-Based Purchasing
As of recently, Sears has suffered share losses of up to 4.8%. It is speculated that a shift toward web-based purchasing, is the reason why Sears is no longer the dominant national retailer it used to be. As more and more consumers go online to buy their goods, an increasingly direct pressure to adapt to modern shopping habits, will be placed upon Sears. In February, the company announced it would be commencing $1 billion dollars worth of cuts. Liquidation based sales could be available to the public around July 13th.