How Much Longer Will These Popular Retail Stores Be Open in Minnesota?
With dwindling sales and growing competition from stores like Target and online companies like Amazon, it's looking more and more like they might not be around for much longer.
According to USA Today, Sears Holdings, the company that operates both Sears and Kmart, said that things have gotten so bad that it's uncertain whether the company will be around by this time next year.
However, the company says it has a plan to move forward... but needs to close 150 stores across the country. They have also sold one of their most successful brands, Craftsman tools, and plans to partner with other companies in order to boost sales in the home and auto departments.
Of course, Sears and Kmart aren't the only big-name companies closing their doors recently. News earlier this week reported that Payless also plans to close hundreds of their stores, plus other popular retailers like JC Penney, Aeropostale, Macy's and Children's Place have all announced that they are closing their doors due to declining sales and increased online competition. So this is definitely a trend, not a blip on the radar.
Sears left Rochester a few years back, but we still have a Kmart in town. If that were to go next would it affect your shopping habits?