What to Know
Sears says it will close 46 more stores in November
Liquidation sales are set to kick off next week
Sears Holdings is closing more stores.
The company said this week it is shuttering 46 more stores in November. The locations are spread across the U.S. (See a full list below.)
"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement.
Liquidation sales at the 33 Sears stores and 13 Kmarts are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings at other nearby stores.
Sears said in January it was planning to shut more than 100 stores. It then announced another round of roughly 100 store closures in May. Sears was operating 894 stores as of May 5, which is the latest available total provided by the company.
With CEO Eddie Lampert at the helm, Sears has been trimming its real estate footprint as sales dwindle at its stores and shoppers increasingly opt to ring up purchases online or outside of shopping malls. Sears is currently evaluating a bid from Lampert's hedge fund, ESL Investments, to buy the Kenmore appliance brand from Sears for $400 million. The company had previously sold its Craftsman tool brand.
Sears is still testing new concepts, like stand-alone mattress stores and combined Sears and Kmart locations, but retail analysts say it will be hard for the company to bounce back from its dire situation.
Sears shares have fallen more than 85 percent over the past 12 months, bringing the company's market cap to $127.8 million, or less than Lampert is willing to pay for the Kenmore brand. The stock hit an all-time intraday low of $1.15 earlier this week.
Here are the 46 Sears and Kmart stores set to close in November:
- Kmart 935 Sweetwater Road Spring Valley CA
- Kmart 1075 Shaw Avenue Clovis CA
- Kmart 3625 East 18th Street Antioch CA
- Kmart 6310 W 3rd Street Los Angeles CA
- Kmart 589 Bridgeport Avenue Milford CT
- Kmart 301 College Square Newark DE
- Kmart 3231 Chicago Road Steger IL
- Kmart 11 South Kings HWY 61 Cape Girardeau MO
- Kmart 2308 Highway 45 N Columbus MS
- Kmart 605 Old Country Road Riverhead NY
- Kmart 440 NW Burnside Road Gresham OR
- Kmart 101 Great Teays Blvd Scott Depot WV
- Kmart 2150 South Douglas HWY Gillette WY
- Sears^ Flagstaff Mall, 4800 N US HWY 89 Flagstaff AZ
- Sears Capitola Mall, 4015 Capitola Road Santa Cruz CA
- Sears† 2424 Highway 6 And 50 Grand Junction CO
- Sears 2266 University Square Mall Tampa - University FL
- Sears† 1625 NW 107th Avenue Doral / Miami FL
- Sears^ Coastland Ctr, 2000 9th Street N Naples FL
- Sears^ Oglethorpe Mall, 7810 Abercorn St Savannah GA
- Sears† 2860 Cumberland Mall Atlanta GA
- Sears† 100 Mall Blvd Ste 300 Brunswick GA
- Sears^ 1631 E Empire Street Bloomington IL
- Sears* 4201 Coldwater Road Fort Wayne IN
- Sears 3000 Mall Road Florence KY
- Sears† 1914 Hammond Square Drive Hammond LA
- Sears* 50 Holyoke Street Holyoke MA
- Sears^ Silver City Galleria Taunton MA
- Sears† 1250 Jackson Xing I-94 Jackson MI
- Sears* 4601 Glenwood Avenue Raleigh - Crabtree NC
- Sears* 77 Rockingham Park Boulevard Salem NH
- Sears* 1500 South Willow Street Manchester NH
- Sears† 4409 Black Horse Pike Mays Landing NJ
- Sears* 200 Eastview Mall Victor NY
- Sears* 578 Aviation Road Queensbury / Glen Falls NY
- Sears 1400 Union Turnpike New Hyde Park NY
- Sears 2700 Miamisburg Centerville Road Dayton OH
- Sears* 9505 Colerain Avenue Cincinnati - Northgate OH
- Sears† 11800 SE 82nd Avenue Happy Valley / Portland OR
- Sears† 400 Memorial City Way Houston - Memorial TX
- Sears* Post Oak Mall College Station - Bryan TX
- Sears 7453 S Plaza Center Drive West Jordan UT
- Sears 12000 Fair Oaks Mall Fairfax VA
- Sears† 8800 NE Vancouver Mall Drive Vancouver WA
- Sears† 4720 Golf Road Eau Claire WI
- Sears Valley View Mall, 4200 US HWY 16 La Crosse WI
Additionally, the Sears Auto Center at these locations will close in the following time frame:
^ Late August 2018
* Late September 2018
† Late October 2018
This story first appeared on CNBC.com. More from CNBC:
- Fed's George says Trump isn't influencing her votes on rate hikes
- Trump says the stock market would crash if he were impeached: 'Everybody would be very poor'
- The three ways student debt makes it hard to buy a house