WASHINGTON — Some of the country’s top retailers are closing the doors of hundreds of stores around the nation, costing thousands of employees their jobs.
Sears Holdings Co., which owns Sears and Kmart, is closing 108 Kmart stores and 42 Sears stores over the next few months, per CNBC. Of those stores, the only locations in the DMV are:
Macy’s will also be closing 100 stores, again per CNBC, but the company has so far only announced 68 of the closings.
Of those closing, the following are located in the DMV:
As a result of the closings, Macy’s estimates its workforce will be cut by 6,200, and an additional 3,900 employees will be displaced by store closures, though some could be reassigned to other stores. The job reductions represent about 7 percent of the company’s workforce, per the Associated Press. The closings and job cuts are estimated to save the company $550 million annually.
In addition, Kohl’s Corp. reported underwhelming holiday shopping numbers, continuing the trend of consumers tending toward online commerce. More and more customers purchase their goods not only from online-only retailers such as Amazon, but also the digital side of company’s such as Macy’s, Sears and Kohl’s.
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