In a move that probably won't shock too many in the retail industry, Sears Holdings Corp. is closing 62 stores during the first half of the year. The news follows an announcement by the retailer that it is selling 11 store sites to mall owner General Growth Properties.
The company will close 43 Sears Hometown stores, which sell hardware supplies, and 10 Sears Hardware units. It is also shutting all nine of its Great Indoors home decor locations, which are in Arizona, Colorado, Illinois, Maryland, Michigan, Ohio and Texas.
Despite these reports, Sears CEO Lou D'Ambrosio says that talk of the company's downfall is "greatly exaggerated." He's almost making it sound like we can expect some kind of transformation from the company, like the much-hyped changes going on at JCPenny.
Speaking of transformations, some Sears stores are making an unexpected move -- getting rid of their clothing selections. Ten of its stores are getting rid of apparel to sell items such as mattress and recliners. Apparently at those locations, clothes aren't a popular buy.
How do you feel about Sears' recent moves? Does anything make you believe that the retailers has better chances nowadays?
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