Sears, Kmart Closing More Stores

Sears Holdings (Hoffman Estate, Ill.) will close an additional 43 Sears and Kmart locations.

“Having the right formats and right sized stores will help us put Sears Holdings in a better position to meet the realities of the changing retail world,” Sears CEO Eddie Lampert said in a company blog post. “We expect to introduce additional smaller, specialized concept stores in the upcoming quarters while simultaneously reducing the number and/or the size of larger-format, less competitive stores.”

Lampert said the company still has a range of assets, including millions of active members in its Shop Your Way program; brands such as Kenmore, Craftsman and DieHard; Sears Home Services, Sears Auto Centers businesses and a substantial real estate portfolio.

The closures include 8 Sears locations and 35 Kmart stores.