Sears, Macy’s Announce More Closings

The retailer has closed more than 2,000 Sears and Kmart locations over the past decade.

HOFFMAN ESTATES, IL—Sears Holdings (SHLD)said Thursday it would shutter an additional 103 stores in early 2018, two months after announcing that it would close 45 Kmart and 18 Sears locations by January of this year. On a smaller scale in terms of store count, Macy’s Inc. also announced more closings Thursday, revealing plans to shutter 11 locations as it works through a previously announced plan to exit 100 stores.

In a statement, SHLD said it’s continuing its strategic assessment of “the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size. In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences” of shoppers. The 103 closures announced Thursday are expected to be completed by April.