Sears Closing More Stores Next Year, 8,000 Layoffs Since November

| About: Sears Holdings (SHLD)

Summary

Growing list of store liquidations now extends into 2015 fiscal year.

Closures include 70 Kmart stores, 39 Sears stores, 35 Sears Auto Centers, two distribution centers, and three repair facilities.

At Sears stores that remain open, employees report layoffs of HR managers, loss prevention managers, department managers, and auto center employees.

Liquidation banners hang from the ceiling of a Kmart store in Oregon City, Ore.Liquidation banners hang from the ceiling of a Kmart store in Oregon City, Ore. (Source: Mitch Nolen)

"I was like, 'Oh my gosh!'" Shyloh Becker said, upon hearing that her Oregon City, Ore., Kmart store was going to close. She has a layaway account at the store for her family's Christmas presents. Raising five children can be expensive, she says, so it's helped to be able to lock down sale prices and pay in installments.

But her store is one of many on an ever-growing list of Sears (NASDAQ:SHLD) and Kmart locations slated to shut down in coming months. And in recent days, reports of layoffs and liquidation sales have begun reaching into the 2015 fiscal year.

(Story continues below.)

ALL SALES FINAL: Exclusive list of Sears, Kmart closures from November through 2015.

State City Store Location Phone Layoffs Closure Date*
AL Centre Kmart 1525 Chestnut Bypass (256) 927-8000 54 December 7
AL Dothan Sears + Auto 662 W Main St (334) 793-3111 68 Early December
AL Huntsville Kmart Huntsville Center (256) 539-0491 73 January 11
AL Scottsboro Kmart 22991 John T Reid Pkwy (256) 259-2728 51 December 7
AZ Phoenix Kmart 336 E Baseline Rd (602) 276-1181 109 Mid January
CA Covina Kmart 1162 N Citrus Ave (626) 967-1455 92 December 7
CA Cupertino Sears + Auto Vallco Shopping Mall (408) 864-6600 Unk. 2015
CA Diamond Bar Kmart 249 S Diamond Bar Blvd (909) 861-7741 Unk. December 7
CA El Centro Kmart 1950 N Imperial Ave (760) 337-8112 75 January 18
CA Rocklin Kmart 5615 Pacific St (916) 624-7003 63 January 11
CA San Leandro Kmart 250 Floresta Blvd (510) 895-9055 102 December 7
CA Yuba City Kmart 850 Gray Ave (530) 673-4101 63 December 7
CT Torrington Kmart 681 Main St (860) 489-1332 73 December 7
DE Claymont Kmart 333 Naamans Rd (302) 792-2881 87 Early December
FL Naples Kmart 4383 Tamiami Trail N (239) 261-2560 72 Mid January
FL New Port Richey Kmart 5725 US 19 (727) 842-7606 58 December 7
FL Oakland Park Kmart 670 E Oakland Park Blvd (954) 563-6246 112 Early November
FL Tampa Kmart 2915 N Dale Mabry Hwy (813) 879-7600 Unk. January
FL Winter Springs Kmart 1425 Tuskawilla Rd (407) 699-1333 69 Mid January
FL Zephyrhills Kmart 7422 Gall Blvd (813) 783-8181 68 December 6
GA Snellville Kmart 2420 Wisteria Dr SW (770) 972-0553 Unk. January 18
IA Ames Kmart 1405 Buckeye Ave (515) 232-7554 44 Early December
IA Clive Kmart 10331 University Ave (515) 222-0868 49 November 30
IA Fort Dodge Sears + Auto Crossroads Mall (515) 574-8200 41 January 18
ID Chubbuck Sears Only Pine Ridge Mall (208) 237-7160 28 Early November
IL Bloomington Kmart 1608 E Empire St (309) 662-3351 79 January 11
IL Crystal Lake Kmart 6000 Route 14 (815) 455-2960 77 November 23
IL Danville Sears + Auto Village Mall (217) 431-7100 63 November 23
IL Forest Park Kmart 7630 W Roosevelt Rd (708) 771-1684 107 Early December
IL Forsyth Sears + Auto Hickory Point Mall (217) 872-4400 45 November 23
IL Peoria Kmart 901 W Lake Ave (309) 682-0350 73 December 7
IN Bedford Kmart 1320 James Ave (812) 275-3022 62 December 7
IN Decatur Kmart 804 S 13th St. (260) 728-2010 49 December 7
IN Fort Wayne Kmart 820 N Coliseum Blvd (260) 426-4546 69 December 7
IN Greenwood Kmart 860 Hwy. 31 S (317) 882-2271 78 November 30
IN Indianapolis Kmart 7425 E Washington St (317) 357-8556 139 December 7
IN Indianapolis Kmart 2715 Madison Ave (317) 783-6621 131 Early December
IN Indianapolis Sears + Auto Washington Square Mall (317) 890-4100 91 December 7
IN Muncie Kmart 1501 E McGalliard Rd (765) 282-3434 59 December 7
KS Manhattan Sears + Auto 103 Manhattan Town Ctr (785) 532-0200 72 November 23
KS Wichita Sears + Auto Towne West Square (316) 941-2700 103 December 7
KY Owensboro Sears + Auto Towne Square Mall (270) 688-6200 52 Early December
MA Kingston Sears + Auto Independence Mall (781) 582-3600 73 Mid January
MD Baltimore Kmart 5760 Wabash Ave (410) 358-5700 107 December 7
ME Presque Isle Sears + Auto Aroostook Centre Mall (207) 768-2000 63 January 18
MI Ann Arbor Kmart 215 N Maple Rd (734) 761-8557 59 Mid January
MI Bay City Sears + Auto Bay City Mall (989) 667-3025 47 Mid January
MI Burton Kmart 1145 N. Belsay Rd (810) 744-4800 85 December 7
MI Flint Kmart 3083 Miller Rd (810) 238-2615 81 December 7
MI Iron Mountain Kmart 1800 S Stephenson Ave (906) 779-1311 54 Mid January
MI Madison Heights Kmart 29101 John R Rd (248) 546-8000 179 December 7
MI Port Huron Kmart Stadium Center (810) 989-7600 188 December 7
MI Rochester Hills Kmart 1100 S Rochester Rd (248) 652-1333 77 December 7
MI Waterford Sears + Auto Summit Place Mall (248) 683-3600 75 December 7
MN Anoka Kmart 1100 W Main St (763) 427-7507 47 December 7
MN Blaine Kmart 8949 University Ave NE (763) 786-9830 60 December 7
MN Burnsville Kmart 14230 Burnhaven Dr (952) 435-9883 62 December 7
MN Waite Park Kmart 40 2nd St S (320) 251-3343 57 December 7
MO Florissant Kmart 2855 Dunn Rd (314) 921-8011 100 December 7
MO St. Joseph Kmart 3909 Hwy 169 S (816) 364-1562 64 Early November
MT Bozemann Kmart 1126 N 7th Ave (406) 587-5191 37 January
MT Great Falls Sears + Auto Holiday Village Mall (406) 771-4000 65 November 23
NC Cary Sears Only Cary Towne Center (919) 380-4800 66 Mid January
NC Gastonia Sears + Auto Eastridge Mall (704) 810-5700 65 December 7
NC Greensboro Kmart 1302 Bridford Pkwy (336) 294-1566 96 Early November
NC Kinston Kmart 1628 N Queen St (252) 522-3462 64 December 7
NC Reidsville Kmart 1623 Way St (336) 342-5716 54 December 7
ND Dickinson Kmart 1761 3rd Ave W (701) 227-1861 41 Late November
NE Omaha Kmart 13450 W Maple Rd (402) 492-2709 50 December 7
NH Claremont Kmart 367 Washington St (603) 543-1990 59 December 7
NJ Dover Kmart 140 Route 10 (973) 361-5950 91 December 7
NJ Paramus Kmart 859 N Route 17 (201) 444-8550 74 December 6
NM Albuquerque Kmart 1640 Rio Rancho Blvd SE (505) 892-6669 59 December 7
NV Sparks Kmart Distribution 1400 S McCarran Blvd (775) 359-2610 100 Late December
NY Auburn Sears + Auto Fingerlakes Mall (315) 258-6300 51 Mid January
NY Bronx Sears Only 404 E Fordham Rd (718) 817-7300 91 Late November
NY DeWitt Kmart Erie Blvd E (315) 445-1904 92 Mid January
NY Ithaca Sears + Auto Ithaca Mall (607) 266-6100 37 November 23
NY Massena Sears + Auto St. Lawrence Centre (315) 764-3500 51 January 18
OH Columbus Sears Distribution 4100 Lockbourne Rd (614) 492-5304 200 January 16
OH Columbus Sears Repair 6230 Busch Blvd (614) 430-5944 112 Early November
OH Fairborn Kmart 224 E Dayton-YS Rd (937) 879-3390 66 Early December
OH Marysville Kmart 1000 N Main St (937) 642-5420 40 December 7
OH Solon Sears + Auto 6221 SOM Center Rd (440) 519-8500 53 December 7
OH Springfield Kmart 1476 Upper Valley Pike (937) 323-9131 68 Early December
OK Enid Sears + Auto Oakwood Mall (580) 249-5200 38 Mid January
OK Muskogee Sears + Auto Arrowhead Mall (918) 684-2600 60 Early November
OR Albany Sears + Auto Heritage Mall (541) 967-3217 57 January 18
PA Bloomsburg Sears + Auto Columbia Mall (570) 387-2500 57 Mid January
PA Chambersburg Sears + Auto Chambersburg Mall (717) 261-2100 62 Mid January
PA Frackville Sears + Auto Schuylkill Mall (570) 874-2133 84 Mid January
PA King of Prussia Sears + Auto King of Prussia Mall (610) 962-6489 114 Early December
PA Lebanon Sears + Auto Lebanon Plaza (717) 228-3000 51 January 18
PA Rochester Kmart 300 Brighton Ave (724) 775-3400 78 Early December
PA Tarentum Sears + Auto Galleria at Pittsburgh Mills (724) 410-9100 97 Mid January
PA Warren Kmart 1666 Market St (814) 723-6251 62 December 7
PA West Mifflin Sears + Auto Century III Mall (412) 655-6255 88 Early December
SC Myrtle Beach Kmart 1403 N Kings Hwy (843) 626-3066 59 December 7
TN Dickson Kmart 301 Henslee Dr (615) 446-7487 65 Mid November
UT Woods Cross Kmart 680 W 2600 S (801) 292-7276 54 December 6
VA Chesapeake Sears + Auto Chesapeake Square (757) 465-4255 82 Mid January
VA Dale City Kmart 2851 Dale Blvd (703) 670-3186 69 December 7
VA Front Royal Kmart Royal Plaza (540) 636-6181 88 January 18
VT Rutland Sears + Auto Diamond Run Mall (802) 770-3000 65 Early December
WA Burlington Sears Only Cascade Mall (360) 757-5500 65 January 18
WI Eau Claire Kmart 2424 E Clairemont Ave (715) 834-2938 93 Early February
WI Fond du Lac Sears + Auto Forest Mall (920) 926-2000 42 Early November
WI Glendale Sears + Auto Bayshore Town Center (414) 961-5151 86 December 7
WI Glendale Sears Repair 5900 N Port Washington Rd (414) 961-5151 67 December 7
WI Janesville Kmart 2233 Old Humes Rd (608) 754-0244 70 Early December
WI Plymouth Kmart 2615 Eastern Ave (920) 892-2454 59 December 7
WI Sheboygan Sears + Auto Kohler Memorial Mall (920) 208-2000 31 Early December
WI Sheboygan Sears Repair 3353 Kohler Memorial Dr (920) 208-2000 30 February 22
WV Bluefield Sears + Auto Mercer Mall (304) 327-2700 64 Early December

*Store closure dates may change due to the pace of liquidation. Entries in bold are new since last month's report.

Fortunately for Becker, her store isn't closing until after the holidays. But other shoppers, enticed by aggressive Kmart layaway promotions, must now transfer their accounts to farther-away stores or the company's website, or get refunds, as dozens of Kmart locations are closing before Christmas. Some stores, like those in Centre, Ala., and Greenwood, Ind., have even accelerated their previously announced January shutdowns to as early as November.

At least 70 Kmart stores are closing in the fourth quarter and beyond. Another 39 Sears stores, 35 Sears Auto Centers, two distribution centers and three repair facilities are being shuttered. Over 8,000 layoffs are attributed to the closures.

Sears Holdings Corp. has repeatedly refused to confirm the size or basic details of its planned closures to national media -- the most a spokesperson would offer was a non-denial -- but the company has gradually informed individual stores and local media of new layoffs and liquidation sales. This list was compiled from local news reports, WARN notices filed with state governments and employee tips, and closures were confirmed with calls to individual stores.

Sears has said it will report its tally of store reductions in its third-quarter earnings, due out by early December.

At Sears stores, the cuts are extending beyond the locations being closed. Employees say heads of electronics departments have been let go as Sears earnings show consumer electronics to be among the worst-performing products at both Sears and Kmart stores. Other locations report that store-level loss prevention managers have been replaced by multi-unit managers who are responsible for more than one store.

Many locations also report that their human resources managers have been replaced with district HR managers and a hotline. Workforce reductions have taken place at the company's auto centers as well, the workers say. And many Sears positions that were vacated through retirement, quitting, or firing have been left unfilled.

Sears is, however, hiring for the holidays, and new employees are regularly brought on due to high employee turnover. Multiple employees say that, at their particular stores, for every five new hires only one worker ultimately stays.

Sears Holdings has posted 30 straight quarters of revenue declines and nine consecutive losses, amounting to over $1.8 billion in negative profits over the past four quarters. The retailer has also managed only one quarterly rise in same-store sales since the 2005 merger of Kmart and Sears.

While Sears may not be making money from customers, the company has raised big sums in recent months from its CEO's hedge fund and other investors through a variety of methods. A $400 million property-secured loan from CEO Edward Lampert's ESL Investments was announced in September. Another $380 million was raised from selling Sears Canada stock in October, including approximately $168.5 million from ESL. The hedge fund also participated in a $625 million rights offering that closed earlier this month.

Also in November, the company floated the possibility of a real estate investment trust to which Sears could sell 200 to 300 stores, or ultimately the majority of its properties. The company would receive a large infusion of cash from the hypothetical sale, then gradually pay it back in rent.

Shares of Sears edged 0.38% lower Friday to close at $36.31 a share. That's down over 40% from a year ago, though up over 50% from the company's 52-week low.

(Follow @mitchnolen on Twitter. Are you a current or recent employee at a retail store, restaurant/fast food chain, or phone/cable company? We have an urgent question for you. Please email mitchreports@gmail.com.)

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.