---
title: "CNN Money: Sears and Kmart Store Closings and Losses Mount"
url: https://burnaze.com/article/7fae0e82-113d-402b-9896-ef0eb7fc2786
source: "1851 Franchise"
original_url: https://1851franchise.com/cnn-money-sears-and-kmart-store-closings-and-losses-mount-8364
category: "Specialty retail"
industry: "Retail"
segment: "Specialty retail"
published: 2016-12-08T16:11:01.000Z
modified: 2026-11-01T12:18:39.129Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/35ec48eda6092645468330780c7ce17d7359.jpg
---

# CNN Money: Sears and Kmart Store Closings and Losses Mount

**TL;DR:** Sears and Kmart, both owned by Sears, are planning to increase store closings in the new year due to decreasing revenue. The company had 4,000 locations open in 2011, but is now down to 1,500 stores between them.

*originally published in 1851 Franchise on 2016-12-08. [Read the original](https://1851franchise.com/cnn-money-sears-and-kmart-store-closings-and-losses-mount-8364).*

## Story

As Kmart and Sears, both owned by Sears, are nearing the end of Q4, data shows that revenue continues to decrease. According to CNN Money , both stores are planning on ramping up store closings in the new year, though the company wouldn’t disclose how many stores will be closed.

While both chain stores had 4,000 locations open in 2011, they are now down to 1,500 stores between them. 2016, in particular, was a major year of closings, with 140 Kmart store closings and 30 Sears closings.

"We will continue to accelerate the closing of underperforming stores,” chief financial officer Jason Hollar told CNN. "We do not intend to borrow money to fund continued operating losses." Instead, the company is looking for ways to raise money and sell off real estate, while also looking for potential buys and/or partners for some of the company’s more established brands.

## Entities

- 1851 Franchise (publication)
- Retail (sector)
- Sears (company)
- revenue decrease (topic)
- retail losses (topic)
- store closings (topic)

---
Originally reported by 1851 Franchise (https://1851franchise.com/cnn-money-sears-and-kmart-store-closings-and-losses-mount-8364). Summarized by Burnaze (https://burnaze.com/article/7fae0e82-113d-402b-9896-ef0eb7fc2786).