Unprofitable Sears and Kmart stores closed

Sears is closing a fairly large number of stores. The American retail group will close 68 of its Kmart stores and ten Sears stores this summer, having announced the closure of unprofitable stores back in February. At the end of the last financial year on 30 January, the company operated 941 Kmart stores and 731 Sears stores (including 26 speciality stores) and its annual sales amounted to USD 25.146 bn. This figure was 20 per cent down on the previous year. Sales on a comparable store area have declined by 9.2 per cent.