Sears, Roebuck & Co. announced Monday that it will purchase two Valley Montgomery Ward stores in the Valley. The sale come just weeks after Target Corp. said it will purchase two Ward's locations in Arizona, which are among 35 Wards stores the chain is buying up nationwide.

As reported earlier today by GlobeSt.com Midwest bureau chief Mark Ruda, Sears has announced that it is acquiring 18 former department stores from Wards across the country, 10 freestanding auto centers and the service contracts held by about 2.4 million Ward's customers. Terms of the purchase were not disclosed. The deals are expected to close by April.

With the purchase, Sears now has 14 locations in Arizona. The Hoffman Estate, IL-based retailer closed a store it had at Scottsdale Fashion Square earlier this year due to lagging sales.

The two stores Sears purchased are in Arcadia Crossing, located at 4531 E. Thomas Rd. in Phoenix and Arrowhead Towne Center, located 7780 W. Bell Rd. in Glendale. The stores, which average 90,000-sf, were closed Sunday and will be remodeled over the next year. The new Sear's stores will open in spring 2002, say a company spokesperson.

In December Montgomery Ward announced that is would close 250 stores in 30 states, including seven in the Phoenix metropolitan area.