Sears - Kmart to slam the doors on 103 stores

Inc. All rights reserved. This material may not be published broadcast rewritten or redistributed

Inc. All rights reserved. This material may not be published broadcast rewritten or redistributed

Area Kmart locations remaining open are the Indianapolis store at 6780 W. Washington St., Elwood, Kokomo, Gas City and Peru. 28, it had 594 Sears stores and 510 Kmarts in the US, 399 fewer stores overall than a year prior.

The latest store closings include Kmarts in Crossville, Goodlettsville and Greeneville, Tenn., and in Statesboro, Albany and Jesup, Ga., and a Sears store in Centerville, Ga.

In November, Sears said it would close 18 Sears stores and 45 Kmart stores as part of cost-cutting measures. Since 2011, Sears has lost more than $10.4 billion. The stock closed Friday at $3.48, down 2.79 percent.

Billings says his community's Kmart has been lucky to survive previous store closings, as Sears Holdings experienced restructuring. Sears is based in IL.

More news: Sneaky Android Malware Impersonates Uber Android App To Steal Your Login Credentials

Sears - which owns Kmart - announced more closings on its website Thursday. Sears CEO Edward Lampert is also an investor in Seritage and chairman of the company's board.

Employees at the stores were informed of the pending closures on Thursday. It continues to test smaller store formats it hopes will lead to "specialized integrated retail experiences". Overall sales across the US grew by 4.9 percent from November 1 to December 24.

"I was always taught by my family to have a Sears [credit] card for mainstays of the home, like sheets and linens, and if I ever needed an appliance", said the nursing professor at Ocean County College. "People are changing their style of shopping".

Latest News