The first domino to fall?

Well, that didn’t take long. This morning the Sears Holdings conglomerate, which operates both Sears and KMart stores around the country, announced over 100 underperforming stores would be closing in the next few months. It’s too early to tell whether any of the stores on this part of Delmarva will be among the victims – there are KMart stores in both Salisbury and Rehoboth Beach, a full-service Sears at the Centre of Salisbury, a smaller Sears in Seaford, and Sears Hometown stores in Rehoboth Beach, Milford, Easton, and Onley.

The story cites one expert who claims Sears “offers a depressing shopping experience and uncompetitive prices.” To be honest, I work there more than I shop there and neither is done all that much. But I’m told their prices are fairly steep and most of the clientele I see when I am in there is older.

Yet the trouble also extends to KMart, as the combined concern reported same-store sales for those open a year or more were off 5.2% for the most recent quarter, which included the holiday season.

I don’t often delve into business stories like this, but if you read my Christmas message you’ll note that I pondered what the retail season may bring:

I suppose if I see a lot of “Going Out Of Business” signs in 2012 I’ll know there was a lot of coal left in retailer’s stockings.

Well, looks like Sears and KMart may have received a double dose of anthracite. It’ll be interesting to see how other retailers do once the holiday season numbers come in, and also whether any local Sears stores are on the chopping block.