I see that you have many posts about Kmart stores closing - but they are all about closing stores in past, like 2014 and 2015 and some even before that. But how many Kmart stores will be closed in 2016? Would someone have that info? If yes, can you post it here and if you can give us locations and dates when closures might be taking place. I would not be surprised if 50% of all Kmart stores were to close in 2016, probably before Fall, or something like that. I live in California and my mom works for Kmart in New York (she was in Texas before) and it's pretty bad.
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How many marts are left after today's closing
kmart should not close if people have been going there for a while then they will have to chose someware else
Athens TN store is on the the bubble and has been put into survival mode indefinitely, They just got Cleveland's former store manager but only after their manager quit. Allbut 2-3 fulltimers were let go. Floor workers now man the registers AND cover the floor. All stock is on the floor nothing in the stockrooms, everything is just crammed where ever they can make it go.
Athens, TN and Sweetwater,TN have had their STORE HOURS/hours of operation cut back too as well as employees cut to 12 hours or less per week. Management has been taking their vacation time in an effort to keep money in payroll so they can keep more employees on the floor instead of cutting hours. It's just a matter of time now.
Cleveland TN Kmart is being closed in April. Can Sweetwater and Athens be far behind? They've already cut part timers back to 10 hours or less a week. Also hearing that Hixson TN may be on the chopping block too.
With $1.2 billion in debt due in April 2016, every Kmart lease is subject to re-negotiation (read "termination") in an attempt to keep SHLD afloat until 2020 (when the remainder of our debt ($1.9 billion) is due and the entire company is liquidated). No matter what your store's EBITA or profitability is, you best update your resume as half of all Kmarts will be closed next year (since SHLD owns so little of the property the stores are located on vs. Sears store locations). My store is the top profit center of the region but we don't own our land (the landlord has previously attempted to negotiate an early termination for our lease). It will be a sad day when the twelve remaining "old-timers" are given pink slips as they NEED their jobs but no job is safe with SHLD.
One good indicator as mentioned in previous posts would be a store's EBITA. If a store's EBITA is negative/unfavorable, chances are they might wind-up on the chopping block. You can access this information via the Operations Workbench at any computer terminal in your store. Click on your own store report card as well as the district report card and by looking at the numbers, you'll have a good indication of which store could possibly be closed in the very near future. Another good tool is to look at the Sales History,Sales Flash, and Lead Scorecard functions on an RMU. Hope this helps.
California is melting down, many stores will be closed, we are down 7% yoy