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WRAL SmartShopper

Sears closing 150 stores and selling Craftsman

Posted January 9

Sears storefront

Sears is closing 150 Kmart and Sears stores and selling the Craftsman brand in an attempt to stabilize the company.

Locations in Fayetteville, Goldsboro and more will be closing by March.

According to the Sears press release, the stores being shuttered include 108 Kmart and 42 Sears locations.

The following stores in North Carolina will close by the end of March:

Kmart at 545 US Hwy 29 North Concord NC
Kmart at1931 Skibo Road Fayetteville NC
Kmart at 201 N Berkeley Blvd Goldsboro NC
Kmart at 102 New Market Madison NC
Kmart at 815 S College Road Wilmington NC

The full list of Kmart and Sears locations that will be closing throughout the country can be found at the Sears website. Liquidation sales at many of these stores began on Friday.

In addition, Sears is selling the Craftsman business to Stanley Black & Decker for $525 million at closing, an additional $250 million in three years and a percent of sales to new customers.

"We are taking strong, decisive actions today to stabilize the company and improve our financial flexibility in what remains a challenging retail environment," said Edward S. Lampert, Chairman & CEO of Sears Holdings. "We are committed to improving short-term operating performance in order to achieve our long-term transformation."

"Going forward, Sears will be more focused on our Shop Your Way membership platform, a network with tens of millions of active members, and our Integrated Retail strategy in order to be a more nimble, innovative and relevant retailer that is better able to provide value and convenience to our customers. We are confident that concentrating on these key initiatives will lay the foundation for growth over the long-term," Mr. Lampert continued.

9 Comments

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  • luvstoQ Jan 10, 2017

    I grew up on Sears - clothing, Craftsman, Kenmore, etc. etc. Loved watching for their catalogs.

    Sad day when K Mart Holdings Corp. bought them - knew it was downhill for sure ;-(
    Certainly did nothing for the Sears name or brands. Have shopped in their store only a couple times since. I have never trusted Kmart.

  • sandyandevie Jan 10, 2017

    i also heard they are selling the kenmore and diehart batteries.

  • jdouglas13 Jan 8, 2017

    Proud Young Grandma, you are right about the houses from Sears -- they were the Sears Craftsman houses, often bungalow type, that people today would give their eye teeth for, if the house is in original condition.

  • Proud Young Grandma Jan 8, 2017

    I like shopping at KMart...but I often forget that there is one in Goldsboro. I live in Johnston County - near the Wayne County line. I know I won't go to Garner or wherever the closest one is now. It's been years since the one in Smithfield closed.

    When I was younger, my parents often shopped at Sears or Montgomery Wards. My Dad really liked Sears for the tools, appliances, and I think they even sold tires and such. I grew up near DC, so not sure if the Sears down here were the same. I do remember the Sears catalog that would come in the mail - that thing was huge! JC Penney's also had a large catalog that came in the mail back in the day as well. I think Sears even sold prefab houses or kits to build them I guess is more precise. My age is showing :-)

  • Proud Young Grandma Jan 8, 2017

    I like shopping at KMart...but I often forget that there is one in Goldsboro. I live in Johnston County - near the Wayne County line. I know I won't go to Garner or wherever the closest one is now. It's been years since the one in Smithfield closed.

    When I was younger, my parents often shopped at Sears or Montgomery Wards. My Dad really liked Sears for the tools, appliances, and I think they even sold tires and such. I grew up near DC, so not sure if the Sears down here were the same. I do remember the Sears catalog that would come in the mail - that thing was huge! JC Penney's also had a large catalog that came in the mail back in the day as well. I think Sears even sold prefab houses or kits to build them I guess is more precise. My age is showing :-)

  • Proud Young Grandma Jan 8, 2017

    I like shopping at KMart...but I often forget that there is one in Goldsboro. I live in Johnston County - near the Wayne County line. I know I won't go to Garner or wherever the closest one is now. It's been years since the one in Smithfield closed.

    When I was younger, my parents often shopped at Sears or Montgomery Wards. My Dad really liked Sears for the tools, appliances, and I think they even sold tires and such. I grew up near DC, so not sure if the Sears down here were the same. I do remember the Sears catalog that would come in the mail - that thing was huge! JC Penney's also had a large catalog that came in the mail back in the day as well. I think Sears even sold prefab houses or kits to build them I guess is more precise. My age is showing :-)

  • Turfie Jan 7, 2017

    China based wal mart has ruined the US economy. Have not been in a wal mart in over 20 years. Will not take anyone to a wal mart. Nothing but inferior products made by chinese child labor.

  • GLOCKMASTER Jan 7, 2017

    Well there goes the quality of the Craftsman tools. Sad

  • tstark4161 Jan 7, 2017

    Poor management has consequences. I remember when Sears let the employee's and local Chicago politicians coax/coerce them in to staying in Chicago. That did not cause their failure but decisions like that lead to their demise. Used to be people would head to Sears as they would Walmart because Sears had most everything except groceries. If you go in there now you can tell their inventory levels are stripped to the bone.