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Sears Holdings Corp. has announced that 40 stores will close in February 2019, adding to the 142 closures the struggling retailer announced previously.
The stores, which include both Kmart and Sears rentals, will be sold out late next week, the company said. Any Sears Auto Stores at these locations will also shutter.
Sears
SHLDQ, + 10.45%
filed Oct. 11 on Oct. 15. The retailer and its chief executive Eddie Lampert.
Read: Here's why the Sears saga could go on for months
In a statement, Sears said, "The Sears Holdings 'share of Sears Holdings' processes is accelerating its strategic transformation and facilitating its financial restructuring."
Also: A Sears liquidation could create some winners and over 100,000 losers
In addition to store closures, Sears has also released its doorbuster deals for Thanksgiving and the Black Friday shopping holiday. Among the items included at Sears are a Kenmore French-door refrigerator, discounted 55% to $ 889.99, and a Craftsman tool chest and rolling cabinet, down from 41% to $ 429.98.
Sears stores will open at 6 pm on Thanksgiving and close at midnight. On Black Friday, will open at 5 am
Kmart stores will open at 6 am on Thanksgiving and close at midnight, then re-open on Black Friday at 6 am The retailer will have deals on shoes, inlcuding buy one pair-get another for $ 1; pajama pants for men and women for $ 7; and appliances, such as a two-slice toaster, for $ 4.99.
and: These Lowe's are closing in the next three months
Also: Good luck snagging closing down at Lowe's stores
Kmart, like many other retailers including Target Corp.
TGT -0.68%
and Walmart Inc.
WMT, + 0.52%
, is focused on toys. This is the first holiday season with Toys 'R' Us to compete with, after its bankruptcy and liquidation.
Sears and Kmart are offering free shipping on orders of $ 35 or more in the online store.
"We want our members and customers to be at Sears," said Peter Boutros, chief brand officer for Sears and Kmart, in a statement.
Do not miss: Lowe's latest store closures are not the first in Marvin Ellison 's short CEO tenure and may not be the last
Sears shares more than 90% in 2018 while the S & P 500 index
SPX, -1.14%
is up 4.1% for the period.
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