These Sears and Kmart stores will start liquidation sales as early as this week

Posted on August 28, 2018

Sears Holdings Corp. has provided a list of 46 unprofitable stores, across 28 states, that it will close in November.

The number includes 33 Sears stores and 13 Kmart stores. The struggling department store chain said liquidation sales at the closing stores will begin as early as Aug. 30.

Shares SHLD, +8.11% bounced 0.9% in morning trade Friday, after slumping 5.9% on Thursday to close at a record low of $1.11. They have tumbled 39% this month and 89% this year. In comparison, the SPDR S&P Retail exchange-traded fund XRT, +0.30% has run up 15% year to date and the S&P 500 index SPX, +0.11% has gained 7.4%.

Earlier this summer, Sears provided an updated list of 78 Sears and Kmart stores that it said would close in September.

The company had originally said in May that it had identified 100 non-profitable stores, and that it would begin closing 72 of those stores in the coming months. At that time, Sears initially provided a list of 63 stores it would begin closing in early September, then updated that list in early June to 68 stores, then added 10 more stores to the list in late June that it said would begin closing in late September.

“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” the company said in a statement. “We thank associates affected by these store closures for their many contributions to our company. Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”