Sears is shutting 130 stores across the country.
According to SILive.com, after already closing 95 stores, the retailer says it will shut down 35 more. Sears Holding Co. says there could be more stores shut down in the future as well.
The losses are occurring as the retailer attempts to rebrand ShopYourWay.com, which started as a rewards program and has expanded into a “social shopping experience.”
“We may close more than the 130 as circumstances may dictate as we continually evaluate our store performance, our lease expirations and our ability to retain a portion of members who had shopped at closed stores due to our progress with our Shop Your Way and Integrated Retail initiatives. A list of possible stores is not available,” says Howard Riefs, director of corporate communications for Sears Holdings.
Sears Holdings Corporation last week announced that it lost $573 million during its last financial quarter, which ended Aug. 2. It’s the ninth consecutive quarter in which the retailer has reported a loss.
While the brick and mortar stores close, Sears is heavily promoting ShopYourWay.com to match consumers buying habits as they change in the digital world.
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