DETROIT (WWJ) – Sears announcing a second wave of store closures on Wednesday, bringing the total number of closures slated for early 2017 to 150.
The company will shut down a total of 108 Kmart stores and 42 Sears stores by April, according to an internal document obtained by Business Insider.
That represents about 10 percent of Sears’ store base.
Forty-six closures were announced internally on December 27. Employees learned of the remaining closures on Wednesday.
Kmart stores closing in Michigan include:
- 29600 Ford Road, Garden City, Michigan
- 3555 O’Neill Drive, Jackson, Michigan
- 1396 South Main Street, Adrian, Michigan
- 5400 S Cedar Street, Lansing, Michigan
- 1501 E Apple Ave, Muskegon, Michigan
- 40855 Ann Arbor Road, Plymouth, Michigan
- 17580 Frazho Road, Roseville, Michigan
- 3541 Highland Road Waterford, Michigan
- 6455 US 31 N, Acme Township, Michigan
Only one Sears store in Michigan will close – the location at 3099 28th St SE, in Grand Rapids.
This latest round of closures will bring the total number of stores that Sears has closed this fiscal year to more than 200.
That means the retailer will have fewer than 1,500 stores left by early 2017. That’s down nearly 60 percent from 2011, when Sears had more than 3,500 stores.
Sears is shutting down stores to help stem losses from falling sales.
In the most recent quarter, Sears’ revenue fell 13 percent, to $5 billion, and its losses widened to $748 million from $454 million in the period last year.
Same-store sales dropped 7.4 percent, including a 10 percent decrease at Sears stores and a 4.4 percent decrease at Kmart stores.
Macy’s will close 68 stores across the country, including its locations at Eastland Center in Harper Woods and at Westland Mall.