Update: The closings announced on Thursday axed the last remaining K-Mart in Alabama, and left only two full-size Sears stores, one in Birmingham and one in Gadsden. Sears holdings has not ruled out closing these two at some future point. Both Sears and K-Mart have been accused of not evolving their retail dynamic to keep up with the times, but surely Internet competition must shoulder some of the blame for these unprecedented closings.
Sears Holdings announced today that it will be closing 18 additional Sears stores and 40 more K-Mart outlets. Only two cities in Alabama will be effected.
The Sears store in Tuscaloosa and the K-Mart in Albertville will be shuttered. Retail pundits expect more to come.