|(Photo from the New Ulm Journal) One of the Kmart stores to be shuttered, this one in Minnesota.|
And in perhaps a sign of desperation for cash, some financial scheming with spinning off Sears Hometown (the mostly rural/small town appliance and tool stores that were typically 5-10k sq ft, smaller than most drug stores) and Sears Outlet to raise some money. http://searsholdings.mediaroom.com/index.php?s=16310&item=122418
Finally, all of The Great Indoor stores will be closed - locations currently remain in Chandler and Scottsdale, Ariz.; Lone Tree, Colo.; Lombard, Ill.; Gaithersburg, Md.; Novi, Mich.; Columbus, Ohio; Farmers Branch and Houston, Texas. These large indoor stores were first opened in 1998 with plans originally for 200 of them, but only around 10% of that number were ever opened.
And to conclude, the usual decreases in same store sales and total revenue. For the quarter, Kmart comps were down 2.7% and for the year down 1.4%, with SHLD revenue for the year down $1.1 billion. http://searsholdings.mediaroom.com/index.php?s=16310&item=122417 Is bankruptcy/liquidation possible in the future?