More than two dozen Kmart stores will be closing this spring, with liquidation sales beginning later this month, a Sears Holding Corp. spokesman told the Detroit Free Press. Company spokesman Howard Riefs declined to tell the Free Press the number of stores that would be closing, but added that the closures would be nationwide and include some Sears stores as well.
Macy’s, the nation’s largest department store chain which also operates upscale Bloomingdale’s, said earlier this week that it is cutting up to 4,800 jobs and has slashed its profit outlook after miserable holiday sales. About 2,110 of those job cuts will come from reducing staffing levels at stores, eliminating duplication in back office operations and consolidating regional store groups. FULL REPORT
