Sears to shutter 21 stores, Kmart to close five
August 7, 2019
The store closures aren’t done. Sears and Kmart, which have closed thousands of stores in recent years, announced plans to close 26 more locations in October. A statement issued by the Transform Holdco, the parent company the retail chains, said it has “faced a number of challenges returning our stores to sustainable levels of productivity, including differences with Sears Holdings over our purchase agreement and a generally weak retail environment.”
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.