The holiday season isn’t over yet, and for Sears & Kmart the news isn’t great. Consumers may benefit from the sell-off of product. But long-term, we lose the local store in our market. Cheap prices during the Holidays may not have contributed to such a large down turn.
From MarketWatch ‘Sears quarter-to-date comparable sales off 5.2% ‘
Sears (SHLD )Reports 5.2% QTD Drop in Comps; Will Close 100-120 Kmart Stores
December 27, 2011 6:13 AM EST
Sears Holdings Corporation (Nasdaq: SHLD) is providing an update on its quarter-to-date performance and planned actions to improve and accelerate the transformation of its business.
Total quarter-to-date sales down 5.2 percent, and year-to-date sales down 2.6 percent.
From the release:
“Kmart’s quarter-to-date comparable store sales decline reflects decreases in the consumer electronics and apparel categories and lower layaway sales. Sears Domestic’s quarter-to-date sales decline was primarily driven by the consumer electronics and home appliance categories, with more than half of the decline in Sears Domestic occurring in consumer electronics. Sears apparel sales were flat and Lands’ End in Sears stores was up mid-single digits. See more on the story
