Sears, after a grim drop in retail sales for Q1, has announced the closure of another four Sears locations in Texas, plus a Kmart in Laredo.
Sears Holding Corp. reported a $424M loss for Q1, a 31% drop in revenue. As an ongoing effort at streamlining, the company has identified 100 non-profitable stores in its chain with plans to close 72 and today announced the closure of 63 stores: 48 Sears and 15 Kmart locations in 29 states.
Texas locations slated for closure by September include Sears at Golden Triangle Mall in Denton, Music City Mall in Lewisville, Ridgmar Mall in Fort Worth and Lakeline Mall in Cedar Park. The Kmart is at 5000 San Dario in Laredo.
Sears announced a similar list of underperforming stores in early 2017, then followed that with specific store closures throughout the year. Those closures included locations in smaller Texas cities, as well as stores in Austin and Houston. The Sears location in Midtown Houston is now an innovation hub. The location at Barton Creek Square in Austin is being marketed to other retailers.
Associates at the stores were notified of the impending closure today. Liquidation could start as early as mid-June, according to the company. Sears Auto locations at the four Texas stores will close in either June or July.
