Sears says it will close as many as 120 Sears and Kmart stores in the coming months. No information was given as to where the stores are located. Slow holidays sales are to blame. The store closings follow an announcement last quarter that Sears would shutter 10 stores. Kmart and Sears have a combined 2,177 U.S. full service locations and 500 in Canada. Sears blamed poor consumer electronics sales in a tough economic environment “especially for big-ticket items” for more than half of the decline in its namesake chain’s domestic same-store sales.
