Wednesday, November 29, 2017

Decelerating News

Sears Holding Co. announced it will close an additional 18 Sears stores and 45 Kmart locations to those already announced. Also, Sears Holdings has reached a deal with a US government pension board that will allow it to sell up to 140 additional properties, likely setting the stage for another round of closures. The company is expected to use all of the proceeds from the sales or financing deals, estimated at $407 million, to fund a pension plan that supports about 100,000 beneficiaries....Target has decided to close a dozen underperforming stores across Michigan, Florida, Illinois and Texas — as of February 2018. Meantime, Target is in the midst of vastly expanding its portfolio of smaller-format stores. This year, Target will have opened 32 smaller stores, with 35 openings planned for 2018. Target also plans to remodel 1,000 of its 1,800 stores by 2020... After disclosing plans to shrink its chain after it fell behind on rent payments and other bills, plus-size retailer Fashion to Figure filed for Chapter 11 bankruptcy this month. The company operates 26 stores and listed $1 to $10 million in assets and the same amount in liabilities, according to the filing... Bon-Ton will close at least 40 of its 260 stores next year as it works to cut costs.

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