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Cd'A Sears set to close

| January 7, 2018 12:00 AM

By BRIAN WALKER

Hagadone News Network

COEUR d’ALENE — Whenever B.J. Stovern needed a new lawnmower, he’d turn to Sears.

"It’s the first place I’d go," the Kingston man. "They’ve always treated me right, had a good stock on hand and the product was always good."

So when Stovern heard Thursday’s announcement that the Silver Lake Mall’s Sears store will be among 39 Sears locations to close nationwide this year he was stunned.

"I hate to see it," he said while waiting outside the Coeur d’Alene store late Thursday afternoon. "That’s going to leave a big hole in this mall. This mall is a nice place to come to."

Coeur d’Alene’s Jane Spencer was also saddened that the store, open since 1989, is expected to close this spring, but not surprised about the news.

"I still enjoy shopping there," she said moments after looking for clothes in the store. "They have good deals every now and then. It doesn’t surprise me that they’re closing, though, because whenever I come in here there isn’t a ton of people, and many people are shopping online or at newer or specialty stores these days."

A Coeur d’Alene store manager said the decision will affect 35 employees at that location. He said the corporation’s announcement does not affect the two Sears locations in Spokane, so the employees can apply to transfer if any positions are open in those stores.

The manager referred other questions to the corporate public relations staff.

"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."

Sears’ sales have been down 45 percent since early 2013, according to company reports. Meanwhile, its debt load has climbed to more than $4 billion. It’s losing more than $1 billion annually.

Thursday’s announcement came on the heels of the Coeur d’Alene Kmart store’s closing last year when nearly 400 total Sears and Kmart stores shut their doors.

Sears is closing 64 more Kmart locations this year in addition to the Sears stores, bringing the total store closings announced Thursday to 103. Those closures are in addition to 63 previously announced closings at the end of this month.

The next round of closures will leave the company with 940 total stores, down from 3,510 six years ago.

Kmart will have about 400 stores left by May, down from 941 two years ago.

Management at the Silver Lake Mall was not available for comment when the Hagadone News Network stopped by its offices late Thursday afternoon.