Liquidating Sears Stores Provide a Boost

Closeout deals drive increased same-store sales in third quarter
Posted December 17, 2018

Hoffman Estates, Ill.-based Sears Holdings saw a slight bump in same-store sales during its third quarter, due to liquidating stores.

With rock-bottom prices, an influx of shoppers turned out to snag closeout deals, increasing the department store’s same-store sales by 3.2 percent – a big jump for a company that hasn’t seen same-store sales growth in years. Shoppers were on the hunt for sales on apparel, jewelry, footwear and tools, reports CNBC.

Similarly, the retailer’s Kmart stores saw a 6.1-percent same-store sales increase, due to low prices on the big-box store’s home goods, apparel and toys. Its groceries, household products and pharmacies did not see a bump.

The company’s total revenue in the third quarter dropped 23.6 percent, from $3.53 billion last year to $2.74 billion.