Sears, Kmart to close 100-plus stores

Sears Holdings Corp. announced Tuesday that it plans to close 100 to 120 of its Sears and Kmart stores due to poor sales during the holidays. The company said in a notice to investors that it had not yet determined which stores across the county it planned to shutter. There are roughly 30 Sears and Kmart stores in the D.C. region.

“Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model,” said Chief Executive Officer Lou D’Ambrosio in a memo.