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Tue, Jan. 21

Local Sears, Kmart stores spared from closures... so far

The parent company of Sears and Kmart stores announced that it has spared stores in Arizona, including the Kmart in Prescott Valley and Sears at the Prescott Gateway Mall, from closures.

Sears Holdings of Hoffman Estates, Ill., on Tuesday announced a list of 79 out of 100 to 120 stores targeted for closing. Sears Holdings, formed in 2005 when Sears and Kmart stores merged, announced the pending closures after reporting continuing declines in sales.

Kmart's quarter-to-date comparable store sales reflect decreases in consumer electronics and clothing categories and lower layaway sales. Consumer electronics and home appliance categories accounted for drops in Sears Domestic's quarter-to-date sales.

Sears Holdings closed the Kmart store on Willow Creek Road in Prescott in November 2009.

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