15 Stories

Source: Kmart to Close 64 More Stores by Christmas

Liquidation sales reportedly start Thursday

(Newser) - A person familiar with the matter says Kmart is closing 64 stores by mid-December as the ailing company looks for more ways to generate cash, the AP reports. The liquidation sales start Thursday, says the person, who spoke on condition of anonymity because the decision isn't yet being disclosed... More »

Employees Say Kmart Is on Its Last Legs

Company says it's 'focused on restoring profitability'

(Newser) - Kmart says it's "focused on restoring profitability to the company." Employees say it's preparing to declare bankruptcy within a year. As Business Insider reports, Kmart—which has seen sales plummet to less than a third of what they were in 2000—is clearing out stock rooms,... More »

Officer Helps Woman Give Birth in Kmart Parking Lot

A special pre-holiday delivery in Mississippi

(Newser) - A Mississippi officer helped make a special pre-holiday delivery in a parking lot for a pregnant woman who couldn't quite make it to the hospital. Sgt. Ken Walker of Corinth came to the aid of Karla White about 4am Monday. WTVA-TV reports that White and her mother were on... More »

Kmart Payment Data Breached in Latest Hack

Customer credit card information at risk: company

(Newser) - If you've shopped at a Kmart store in recent weeks, it may be time to check your credit card records: The company is the latest retailer to fall victim to hackers, it says. Hackers apparently got into Kmart's systems in early September; some credit and debit card numbers... More »

QVC Confirms It's Dumping Paula Deen

Sears and Kmart are, too

(Newser) - QVC is apparently finished "reviewing" its relationship with Paula Deen in the wake of her n-word controversy, and not surprisingly, that review did not end with good news for Deen. Deen revealed in a statement yesterday that she and QVC have "agreed that it's best for me... More »

S&P 500 Drops Sears

Retailer has been part of index since it began in 1957

(Newser) - Observers of the S&P 500 might notice the absence of a familiar name starting Wednesday: Sears is being dropped from the index, after being a part of it since the S&P's creation in 1957, reports CNNMoney . One of the main reasons cited for the move is a... More »

Man Buys All Kmart's Stuff—for Charity

Kentucky's Rankin Paynter donates $200K worth of items

(Newser) - When his local Kmart was getting ready to close, a Kentucky man decided to buy all the store's stuff—and hand it to charity. While visiting the store to score some deals, Rankin Paynter asked what happened to all the unsold items; the clerk told him "power buyers"... More »

100 Kmart, Sears Stores to Get the Ax

Same-store sales are down 5.2% for the quarter

(Newser) - It seems that the Kardashian Kollection alone wasn't enough to save Sears from a horrible holiday season. Sears Holdings Corp. today announced that it will close between 100 and 120 of its approximately 2,200 Kmart and Sears full-line stores, reports the Wall Street Journal . It expects the sale... More »

Secret Santas Wipe Away Strangers' Layaway Debts

Anonymous donors clearing accounts at Kmarts, Walmarts

(Newser) - A nice fad this holiday season: Secret Santas are going around to Kmarts and Walmarts and paying off the layaway accounts of random strangers. It's happening all over, including stores in Nebraska, Michigan, Iowa, Indiana, South Carolina, and Montana. The AP , NPR and Time round up examples of the... More »

Tweet a Commercial, Make a Quick Buck

Twitterverse split on ethics of Sponsored Tweets

(Newser) - A new company is brokering deals between businesses and Twitterers who want to make a few extra bucks plugging products, Time reports. The founder of the website Sponsored Tweets says 7,000 enterprising Twitterers have signed up for the service in its first month. Twitterers get paid based on a... More »

Desperate in July, Sears Looks to Santa for Bailout

(Newser) - Sears is taking the “Christmas in July” trope to a whole new level. With June retail sales tumbling, the company is looking for a boost by selling actual Christmas products, Time reports. Soon, 372 Sears stores will roll out displays hawking tree ornaments, stocking stuffers, and other decidedly off-season... More »

Slashing Prices Online May Kill Etailers

Price wars sure to kill off some struggling e-tailers

(Newser) - Online retailers’ response to their first dreary holiday season is a price war so fierce many won’t see the new year. Web shoppers are trained to search for deals, and 75% say they would leave a site that doesn't offer free shipping, the New York Times reports. Fine for... More »

Cash-Strapped Shoppers Remember Layaway

No-interest credit appeals to consumers

(Newser) - With consumers strapped and credit short, retailers are reviving an older kind of financing: layaway. Although the arrangement was considered obsolete when Wal-Mart closed its layaway department in 2006, retailers such as TJ Maxx, Goody’s, Marshalls and the Burlington Coat Factory have moved to offer the service, especially as... More »

Slumping Sears Ousts CEO

Board dumps Lewis as part of restructuring plan to boost retailer's falling sales, stock

(Newser) - Sears Holdings CEO Aylwin Lewis will depart as part of company-wide restructuring, the Wall Street Journal reports. Sears stock has plummeted 40% since July, and the retailer's sales were down 3.5% this holiday season. The company, which was created when Kmart Holding Corp. took over Sears in 2005, last... More »

Retailers Await Last-Minute Gift From Shoppers

Procrastinators find big sales, long lines

(Newser) - Last-minute shoppers navigated long lines over the final pre-Christmas weekend, nudging retailers toward the modest growth in sales they’d expected. Deep discounts cut into profits, but retailers like Macy's and Kmart stayed open around the clock to accommodate shoppers, the Wall Street Journal reports. “The procrastinators finally got... More »

15 Stories