Sears Holdings closing 5 unprofitable Ohio Kmart stores, 58 others nationwide in January 2018

November 3, 2017 GMT

Sears Holdings closing 5 unprofitable Ohio Kmart stores, 58 others nationwide in January 2018

CLEVELAND, Ohio -- Sears Holdings Corp. on Thursday told employees at 18 Sears stores and 45 Kmart stores nationwide -- including five stores in Ohio -- that their stores will be closing after the holiday season, in late January 2018.

The Ohio Kmart stores are at: 14901 Lorain Ave. on Cleveland’s West Side; 1292 Indiana Ave. in St. Mary’s; 2830 Navarre Road in Oregon; 4475 Mahoning Ave. in Austintown, and 1243 North High St. in Hillsboro.

“Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size,” the company said in a written announcement.

“In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.”

Sears Holdings did not say how many employees work at those stores, but stressed that all 53 stores will remain open through the holiday shopping season. Liquidation sales will begin as early as Nov. 9 at affected stores.

After January, employees who are eligible will receive severance and the chance to apply for open positions at other Sears or Kmart stores.

“The number of associates impacted is not available,” a spokesman said via email Friday. “The majority of these jobs are part-time positions.”

On Aug. 24, as part of its second-quarter earnings report, Sears Holdings said revenues declined to $4.4 billion for the three months that ended on July 29, compared with $5.7 billion for the same quarter the previous year.

Sales at stores open at least a year, an important retail metric, fell 11.5 percent during the quarter. Same-store sales declined 9.4 percent at Kmart and 13.2 percent at Sears stores.

“In fiscal year 2017, we have closed approximately 180 stores previously announced for closure, and an additional 150 stores previously announced for closure are expected to be closed by the end of the third quarter of 2017,” the company said at the time.