Out of 100 Sears stores that did not profit last quarter, 72 are joining the 103 Kmarts and other Sears locations that are closing soon.
Sears lost nearly half of a billion dollars in the first quarter of 2018 and quarterly revenue has nearly been cut in half over the past year. Approximately 70% of the decline is due to closing stores.
Competing with online retailers is not the only thing that analysts believe has been hurting Sears. They also think that Sears has not been updating their merchandise and services to meet the needs of the evolving consumer base.
Despite attempting to change up their retail branding and blending online with brick-and-mortar in smaller stores that are experience based, Sears may only have remaining value in the land and buildings they own.
What we will likely see next is more big store closures and the sale of those buildings and spaces to entertainment based ventures.
What do you think?