Another 103 store closings for Sears Holdings
Sears Holdings reported today that it will close another 103 stores this spring.
The troubled retailer said it will shut down 64 Kmart locations and 39 Sears stores by April of this year. Another 63 closings, announced last year, are scheduled to be completed by the end of January.
"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size," the company said in a statement. "In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members."
The Hoffman Estates, Ill.-based chain has closed nearly 400 stores in the past two years. After this latest round of closings, the company will have less than 950 total Sears and Kmart locations. The company operated more than 3,500 total locations six years ago.
Sears Holdings posted total revenues of $3.7 billion for the third quarter 2017, a 26% drop from revenues of $5 billion in the third quarter of 2016. The company attributed much of the decline to store closures.
MoistureShield Infuse decking captures Product Innovation Award
MoistureShield Infuse composite decking with CoolDeck technology has been awarded an Architectural Products magazine Product Innovation Award 2017.
Judged by a panel of more than 40 industry professionals, the award is given to products that excel in innovation.
MoistureShield’s CoolDeck technology is the first of its kind, and is a solution to homeowners’ concerns of composite deck surface temperature. MoistureShield’s CoolDeck technology optimizes heat reflection to provide a cooler, more comfortable deck. The boards absorb up to 35% less heat than conventional capped composites in similar colors, for a noticeably lower surface temperature in direct sun.
Although any dark-colored decking absorbs sunlight, and can heat up, composites are denser than wood decking, leading to some products becoming too hot to touch. Hot decking limits time on the deck, especially for barefoot children and pets.
MoistureShield Infuse decking is made with 95% total recycled content (38% post-consumer, 57% pre-consumer), including recycled milk jugs, grocery bags, pallet wrap, waste pallets and construction debris. MoistureShield backs its Infuse decking with a transferable lifetime residential warranty, supplemented with a 25-year fade and stain warranty. Infuse can be installed on the ground, in the ground or even under water.
MoistureShield and ChoiceDek brands are produced by Advanced Environmental Recycling Technologies, part of the Architectural Products Group of Oldcastle. AERT is a vertically integrated manufacturer of composite decking boards and related products, serving a range of retail and distribution customers across North America and several international markets.
Readers Respond: High expectations in 2018
Ninety percent of readers expect sales to grow in 2018. And more than a quarter of readers from are predicting a sales gain of 10% or higher.
That’s pretty aggressive optimism for an industry which has been served a steady diet of slow-growth forecasts in recent months and years.
The HBSDealer poll question asked: “Looking ahead to 2018, what’s your forecast for sales growth?”
• 10% or more: 26%
• 5% to 9.9%: 42%
• Up 1% to 4.9% 22%
• Flat 8%
• Down 1% to 4.9% 2%
• Down 5% to 9.9% 0%
• Down 10% or more 1%
More than 130 readers participated in the sales forecast poll. You can take the poll here.