Sears, Kmart Closings Not Affecting Gloucester County Stores
The company's locations in Mantua and Deptford were spared in the closings announced Thursday.
But the list Sears Holdings released only marked 79 of a planned 100 to 120 store closures, and the company said additional updates will be made at some point.
The closest closings are two Sears stores in Pennsylvania; on in Upper Darby and another in Pottstown.
A release from the company noted declines in sales of consumer electronics and home appliances combined to drive down sales, which were down 2.6 percent overall across Sears and Kmart stores.
"Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model,” CEO Lou D'Ambrosio said in the release.
Much of that involves reducing inventory and shutting down underperforming stores, company officials said.