Sears said Thursday that it is closing 28 more Kmart stores as the retail industry's turbulence shows no signs of letting up, Fortune reports. "That will bring the number of Sears and Kmarts stores closed this year to 358," MLive writes.
Sears is fighting fiercely to stay afloat, announcing earlier this year its plans to sell Kenmore appliances on Amazon and cashing in on assets like Land's End, Craftsman, and hundreds of brick-and-mortar stores, Fortune writes. Sales fell more than 13 percent at Sears and more than 9 percent at Kmart in the quarter that ended in July, declines that outpaced rivals Macy's and J.C. Penney.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Why Rikers Island will no longer be under New York City's controlThe Explainer A 'remediation manager' has been appointed to run the infamous jail
-
California may pull health care from eligible undocumented migrantsIN THE SPOTLIGHT After pushing for universal health care for all Californians regardless of immigration status, Gov. Gavin Newsom's latest budget proposal backs away from a key campaign promise
-
Is Apple breaking up with Google?Today's Big Question Google is the default search engine in the Safari browser. The emergence of artificial intelligence could change that.
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
