A Sears spokesperson is quoted a Daily Herald article as saying, the stores "are closing due to business reasons." The locations are underperforming and so the leases are not being renewed.
According to the Crain's Chicago Business article, two Kmarts are closing in Illinois; the 87,000-square-foot Woodstock store and the 79,903-square-foot South Suburban Crestwood location will shutter. Ohio will lose five Kmart stores.
The Sears locations that will close are mostly outside the Midwest. According to a Chicago Tribune article, the four Sears stores are located in Waycross, GA; Columbia, TN; Wilson, NC; and Houston. The four Sears Essentials stores are in Plainfield, NJ; Carlton, NJ; West Bend, WI; and London, NH.
Sears' portfolio includes 1,300 Kmarts and 850 Sears stores. The company will release its fourth quarter earnings on this week; analysts don't expect to see positive numbers.
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