Sears Gives Holiday Sales To Rivals (But Not On Purpose)

By  |  November 28, 2014
 | 

A decline in market share of the Sears retail chain, which includes both Sears and Kmart stores, is likely to boost the fortunes of competitors like Lowes and Home Depot on the hardware front, and electronics sales at competitors such as Best Buy and Walmart, according to a November 25 article in the Wall Street Journal.

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    The article said the change is driven by a number of store closings this year, with 110 of what was then 1,980 closures between early February and early August. Preliminary third-quarter numbers indicate that while, average store sales were only down 1/10 of 1%, although that figure may have been boosted by sales at soon-to-be-closed stores.

    Next week when Sears reports its third-quarter results, overall sales are expected to fall below the $7 billion reported in the same period last year.


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