retail news in context, analysis with attitude

Business Insider reports that while Sears Holdings announced that it would shut down a total of 150 Sears and Kmart stores this year, most of them during April, the company has been notifying another dozen or so stores that they will be closing in July.

The stores are said to be in Florida, Hawaii, Michigan, New Mexico, Ohio, Pennsylvania, South Carolina, and Washington.

The story says that Sears Holdings CFO Jason Hollar has said that the company would have to close more stores as a way of seeking "liquidity."

In other words, cash.

Business Insider notes that Sears now has fewer than 1,500 stores, down from 2,073 five years ago.
KC's View:
I have no idea if these guys are clueless about Sears' future (they've certainly been clueless about virtually every retailing mood they've made in the past), or if they have some sort of strategy for how they're going to land this turkey.

For some reason, I find myself thinking of the scene from Airplane!, when flight attendant Elaine Dickinson gets on the P.A, and says, "We regret any inconvenience the sudden cabin movement might have caused, this is due to periodic air pockets we encountered, there's no reason to become alarmed, and we hope you enjoy the rest of your flight... By the way, is there anyone on board who knows how to fly a plane?"