Business & Tech

Buford Kmart Slated for Closure

Sears Holdings to close 100 to 120 Kmart and Sears full-line stores next year. Dacula Hometown Sears store not affected.

The Buford Kmart is one of over 100 Kmart and Sears stores that will be closed in 2012. The store is located at 1605 Buford Highway in Buford.

Earlier this week, in an attempt reduce costs and improve corporate performance. The announcement followed disappointing fourth-quarter results for the national retailer. For the quarter to date, sales for Kmart and Sears are down 5.2 percent.

The Dacula Sears store is not a corporate owned store and is not affected by the planned closings.

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Sears Holdings expects to reduce 2012 peak domestic inventory by $300 million from the 2011 level of $10.2 billion at the end of the third quarter. The company also plans to focus on improving gross profit through better inventory management and more targeted pricing and promotion.Β 

The company plans to release financial results for its fiscal 2011 fourth quarter and full year on or about Feb. 23, 2012.

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