The Tupelo Sears location in The Mall at Barnes Crossing has survived yet another round of closings.
Sears Holdings Corp.’s recent announcement that it was closing another 68 stores affected the location at Turtle Creek Mall in Hattiesburg, but the store in in Tupelo was spared once again from cuts.
Sears Holdings., which includes the iconic Sears and Kmart brands, has has closed more than half of its stores in the past five years (1,980 stores in 2013 to 894 today) . At its peak in the 2000s, the company had 3,500 Sears stores and 2,171 Kmart locations nationwide.
For the most recent quarter, Sears’ revenue fell more than 30 percent, to $2.9 billion. Same-store sales during the period dropped by 13.4 percent at Sears stores and by 9.5 percent at Kmart.
Earlier this year, Sears announced 166 store closings.
In another move, Sears Hometown and Outlet Stores Inc., which was spun off in 2012 by Sears Holdings, plans to close up to 100 of its 882 stores this quarter to reduce costs.
Among the stores that will be closed Northeast Mississippi are locations in Columbus, Corinth and Ripley, all of which will close by July 23.
The stores in Oxford, Grenada and Olive Branch remain open.
The Hoffman Estates, Ill.-based appliance, hardware and lawn-and-garden retailer announced the cuts while reporting a $9.4 million loss for the first quarter, according to Business Insider.
Most Sears Hometown stores are run by independent dealers and franchisees. In March, Sears Hometown started a print, digital and television marketing campaign, including the company’s first-ever national TV ads, to highlight its stores, emphasizing that the locations are independently owned and run by people who don’t work for Sears.
Sears Hometown said most of the closings in the second quarter will occur before the expiration of leases or dealer agreements. The company said it intends to close at least 90 stores in the quarter.
In the first quarter, Sears Hometown closed about 20 stores. Sales at Sears Hometown stores open at least a year dropped 10.5 percent in the first quarter.