Sears and Kmart will close as many as 120 stores in 2012. Sears or KMart operate stores under the Kmart, Sears, or associated brand names in Fresno, Clovis, Madera, Oakhurst, and Selma.
The company says business is down significantly. The company says it will report earnings in the 4th quarter of 2011, which includes the critical Christmas holiday shopping season, at less than half of last year's profits. 4th quarter of 2010 Sears reported nearly $1 Billion in revenue.
Industry analysts give a variety of reasons for the decline of Sears and KMart. Some say the economic recession that still grips the US hits those companies core shoppers harder than most.
Others say Sears and KMart have not done a good job of staying up to date and relevant.
The same parent company owns both chains. As of Tuesday, 12-17-11 a list of the stories that will be closed has not yet been released.