A report by Seeking Alpha, crowd sourced content service for financial markets, had announced that Sears will be closing a number of locations, including stores in Pennsylvania, Michigan, and Indiana. Sears spokesperson Howard Riefs has stepped forward to tell JCK Online that the report’s list is not accurate, and that Sears will be announcing the new store count in its third-quarter financial results.
“Adjusting our physical footprint to focus on our best-performing locations is a core component of our transformation,” says Riefs. “While this has resulted in store closures where appropriate—decisions that we do not take lightly—we continue to have a substantial nationwide footprint with a presence in many of the top malls in the country.”
The report disputed by Riefs indicated that Sears will be closing 100 stores and letting 5,000 employees go before the fastly approaching holiday season. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
