HOFFMAN ESTATES, Ill. -- Sears Roebuck & Co. said Thursday it plans to close four underperforming stores in The Great Indoors chain of home decorating and remodeling centers.
Sears, calling the announcement a refinement of its business strategy, said it will close three Great Indoors stores in Arlington and Willowbrook, Texas, and in Cincinnati by year's end. It also plans to convert a fourth Great Indoors store in Shelby, Mich., into an outlet store.
The retailer plans to take a charge of up to $100 million in the fiscal third quarter for the closings and conversion. Sears says the charge was not factored into its July announcement that it anticipated full-year earnings per share to be between $4.80 and $5.00 per share.
Watch out for these stores. For those who lives in the vicinity, there is the potential of LSi's sales way below MSRP.