Sears to close 89 stores
January 8, 2001,
HOFFMAN ESTATES, IL -Continuing the recent tide in the battered retail world, Sears, Roebuck & Co. announced its plans last week to close 89 underperforming stores, four of which are full-line department stores.
"Our actions reflect our heightened focus on productivity and returns," Alan Lacy, the new chairman and ceo, said in a statement. "By closing underperforming NTB and hardware stores we will enhance the profitability of Sears' off-the-mall businesses."
Sears reported a 1.1 percent decline in revenues from comparable domestic stores during the holiday period.
Just four of its 860 full-line department stores-Voorhees, NJ; Scottsdale, AZ; Owings Mills, MD; and Homestead, FL-will be affected.