K-Mart store closings are announced mainly on their social media sites, store signs, and through local news. When a large numberof stores are slated to close, the Sears Holdings Corporation releases a list to major news outlets such as USA Today and Forbes.Continue Reading
Besides traditional news outlets and K-Mart's official website and social media, there are other independent websites that list store closings. One site is Seeking Alpha, a financial analyst site that predicts which stores are expected to close. The list has neither been confirmed nor denied by K-Mart and its holdings.
Sears Holdings, which owns both K-Mart and Sears, closed nearly 200 stores, distribution centers, and auto repair shops between 2014 and 2015. According to Fortune Magazine, CEO Eddie Lampert closed the stores due to declining sales and poor projections for certain stores. He also wants to shift the brand's focus from traditional brick-and-mortar stores and concentrate on membership-based and online business models.
In the past, some stores have stayed open months or even a year after the closing was announced; in other cases, it was mere weeks. This can prove problematic for customers utilizing the stores' Lay-A-Way systems, where customers may have to move their purchases to other stores.Learn more about Corporations