15 Michigan Kmart, Sears + Macy’s Stores to Close, Including Very First Kmart
A record holiday shopping season in 2016 wasn't strong enough to keep the doors open at these 16 Michigan Kmart, Sears, and Macy's department stores.
Experts expect that, once the numbers are in, we'll see a record-breaking amount of holiday spending was done in 2016. The projection of around $1-trillion would represent almost a 4% increase over 2015. You might think that with such a successful 4th quarter, department stores would be beefing up their staff and reinvesting in their facilities. Well, in a handful of cases -- you'd be wrong.
A string of nationwide department store closings have been announced this week, the largest of which are from Kmart, Sears, and Macy's. Macy's cited a "disappointing holiday shopping season" for the decision to close 100 stores, 32 of which have yet to be named. Kmart and Sears, both owned by Sears Holdings, will be closing 150 stores, as well as selling off their ownership of Craftsman Tools to Stanley Black & Decker.
Genesee County has seen virtually all of their Kmart locations close already, and while none of the newly announced store closings are within its borders, the Genesee Valley Macy's location could be among the 32 that are yet to be announced. The most surprising Michigan closure on the list is the Garden City Kmart, which was actually the first Kmart store opened in the United States. The store, which the previously Michigan-based retailer opened in 1962, will close with 146 other locations in late March, right after its 55th anniversary.
Michigan Kmart Stores Closing in Late March 2017
Michigan Sears Stores Closing in Late March 2017
Michigan Macy's Stores Set to Close in 2017
It might seem crazy that so many stores would have to close after a record holiday season, but when you take into account that online retailers, particularly Amazon, had an unprecedented year -- the picture becomes a little clearer. Amazon shipped 50% more items this year, likely cannibalizing the market shares of older stores like Kmart and Sears. Let's be honest, unless you needed to get a riding mower and a pair of Wrangler jeans at the last minute -- Sears isn't exactly your go-to retailer.