Sears to Exit The Great Indoors Format
Posted on February 29, 2012 by
HOFFMAN ESTATES, Ill.-Sears Holdings will exit The Great Indoors format by closing the nine remaining stores this year, according to its most recent update on store closings.
Sears had operated The Great Indoors stores since the late 1990s, offering appliances, furniture, home textiles, housewares, outdoor living and seasonal merchandise. In a statement, a company spokeswoman said the decision to close the format was made in response to current business conditions and "to advance its integrated retail strategy." In January, Sears Holdings announced that it was closing from 100 to 120 stores as part of its response to its weak performance in the fourth quarter.
Last week, Sears Holdings reported a net loss of $2.4 billion for the quarter and a net loss of $3.1 billion for the fiscal year. Same-store sales at Sears were down 4.1 percent, and decreased 2.7 percent at Kmart stores.
The spokeswoman said The Great Indoors store managers and associates were told of the closings on Feb. 23. She said a time frame for the closings had yet to be determined. The stores are located in Arizona, Colorado, Illinois, Maryland, Michigan, Ohio and Texas.