The Retail Reaper Might Strike Sears Again
Thanks to our good friends over at The Consumerist, we have learned today that the once proud department store chain Sears will close 50 of its Auto Center locations. This is in addition to the 150 store closings it announced earlier in the year. (The Lubbock location was not on that list.)
The company has not announced which auto center locations will be closing, and after reaching out to the Lubbock Sears Auto Center, it is business as usual and they know nothing as of yet.
"As we sharpen our focus on profitable areas of our business, we will also continue to closely evaluate the longer-term viability of stores where a clear path to return to profitability is not in sight," said Sears CEO Eddie Lampert.
This completely contradicts what company officials said a few weeks ago in its annual statement.
"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," it says.
It's only a matter of time before Sears heads to the great retail Heaven. But until we hear otherwise, it is business as usual.