TERRE HAUTE, Ind – The Sears store in Terre Haute’s Honey Creek Mall was not on the list of stores being closed released Thursday afternoon.
Sears said that they are continuing their efforts to streamline the Company’s operations and focus on their best stores and identified approximately 100 non‐profitable stores, many of which will begin store closing sales in the near future. The company said that they will continue to evaluate their stores and will make further adjustments as needed and as warranted.
The company informed associates at 15 Kmart stores and 48 Sears stores that they will be closing those stores in early September 2018. The list of stores closing released by the company is available by clicking the link below. Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at other company stores in their area.
Even though the Terre Haute store was not on the list, other Indiana stores in Lafayette, Muncie and at Castleton Square Mall in Indianapolis will be closing.
Sears said overall revenue fell 31% in the three months ending May 5. But most of that decline was due to previous store closings.
Still, sales fell 12% at the stores that remained open.
Sears and Kmart had a total of 3,500 U.S. stores between them when they merged in 2005 but only has 894 left including the 72 that will soon be closed.
The one-time powerhouse retailer that survived two world wars and the Great Depression has been selling off pieces of itself as it burns through money.
Kenmore, the retailer’s appliance brand, became the latest potential sale after ESL Investments, the company’s largest shareholder, headed by Sears Chairman and CEO Edward Lampert, said it might be interested in buying it.
Lampert, who combined Sears and Kmart in 2005 after helping to bring the latter out of bankruptcy, has long pledged to save the famed retailer, which started in the 1880s as a mail-order catalog business.