Local Sears and Kmart’s Closing

Sears Holdings (SHLD) announced yesterday that it would be closing 68 Kmart’s and 10 Sears locations this summer, leaving the company with less than 900 Kmarts and under 700 Sears. Store sales for both retailers have declined ever since 2005. Experts attribute the decline of Sears to a lack of store and merchandise upgrades, while Kmarts problem has been the inability to compete with other discounters (namely Walmart).

The Kmart on San Jose Boulevard and the one in Neptune Beach on Atlantic Boulevard will close, as well as the Sears in Regency Mall.

Jonathan Chew with Fortune covered the story.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on April 22, 2016, in JAX Market Info, Shopping Centers/Retailers and tagged , , , . Bookmark the permalink. Leave a comment.

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