Macy's, Sears and Kmart Stores Closing - Are Online Sales Killing Brick-and-Mortars?
Are online sales killing brick and mortars?
Amazon reported they had their best holiday season this past year.
Meantime, Macy's says it will close 68 stores and cut 10,000 jobs after a poor performing holiday season.
Sears Holding, parent company of Kmart and Sears is also nixing stores -- 150 of them -- including 108 Kmart and 42 Sears stores.
Of the 68 Macy's stores, three closed by mid-year 2016, 63 will close in spring and two will be closed by the middle of 2017. Three other locations were sold or will be sold or leased back.
USA Today reports Sears Holding will hold liquidation sales as early as January 6 at all of the closing stores. Most of the stores will close at the end of the March.