Sears and K-Mart Closing Stores Nationwide
December 29th, 2011 § Leave a Comment
There is some speculation in the post-holiday season regarding Sears Holdings, the parent company of Sears and K-Mart stores. In the days after Christmas, Sears Holdings faced the news of decreased sales through the most-important Christmas season. They responded by announcing that they would be closing some K-Mart and Sears stores nationwide.
It is supposed that Sears declining business, down 5% this Christmas season, was partially caused by Sears’ inability to keep up with a changing consumer market, as well as attempting to compete with Wal-Mart pricing and selection. As a savvy consumer, however, I must say I buy much of my children’s clothing at Sears because the selection is, actually, quite fashionable and my preferred retailer because the clothes are well-made, last much longer than Wal-Mart leggings, jeans, hoodies, t-shirts, etc.
Sears has experienced a sharp 12.74% decline in stocks from $33.38 to $27.20, just after the announcement. Sears Holdings stock had been at $80 per share in October.
