Sears Closing 103 Stores

Today Sears Holdings Corp (SHLD.O) announced the closure of 103 stores. After 24 quarters of consecutive losses, the retail giant is closing 64 Kmart stores and 39 Sears stores. These closures are scheduled  for March and April 2018, with liquidation sales starting in mid-January.

Sears declined to say how many jobs were being lost. However, they did say most were part-time positions. They also promised severance packages to eligible associates.

Sears continues to face increased competition from on-line sellers such as Amazon, big box giants like Walmart, Best Buy, and Home Depot.