AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From AuctionThe 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.
MajorsJul 12, 2017
Sears Announces Closure of 43 More Stores
CEO Eddie Lampert is asking vendors to stand by the retailer as it tries to turn its business around.
Sears Chairman and CEO Eddie Lampert announced another round of stores closings and called on vendors for continued support, noting that the Hoffman Estates, Ill.-based retailer, whose headquarters are pictured here, is “determined to do what is necessary to remain a competitive retailer.”
Hoffman Estates, Ill.--Sears Holdings Corp. announced the closure of 43 more unprofitable Sears and Kmart stores nationwide.
In a post on the retailer’s blog, Chairman and CEO Eddie Lampert said the retailer would begin closing an additional eight Sears and 35 Kmart stores that are unprofitable, noting that: “Changes in consumer behavior are driving our vision and actions, and we continue to transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.”
The stores will begin liquidation sales as early as Thursday and all will shut down by early October.
The 43 closings announced late last week is the latest in a line of store closing announcements and cost-cutting measures undertaken by the flailing retailer, which is fighting to stay out of bankruptcy.
Lampert said the closures are part of a strategy to stem losses from stores that are losing money while also reducing the size of other stores that are “simply too big for our current needs.”
“Having the right formats and right-sized stores will help us put Sears Holdings in a better position to meet the realities of the changing retail world,” he said.
While Sears has closed hundreds of locations over the past year, it also has been experimenting with new, smaller-format stores, opening an appliances-only store in Fort Collins, Colorado, and an appliances and mattress store in Pharr, Texas.
In his blog, Lampert asked the company’s vendors for their continued support, pointing out the progress Sears Holdings has made in cutting costs, expanding its borrowing capacity and selling off real estate to pay down debt.
“I believe the changes we have made will begin to build more confidence in the future of Sears Holdings among our vendors so that they will increase their support and put us on a more level playing field with our competitors. While there is still work to do, we are determined to do what is necessary to remain a competitive retailer in a challenging environment,” he said.
The list of the eight Sears and 35 Kmart stores that will close is on the Sears website. The stores are located in 25 different states.
Sears ranks No. 7 on National Jeweler’s 2016 list of $100 Million Supersellers, with an estimated $750 million in watch and jewelry sales in North America in 2015.
The company joins several other longtime names in American department store retailing to
shutter a sizable number of locations this year.
Macy’s Inc. is set to shed about 14 percent of its stores this year while J.C. Penney Co. Inc. will also shutter about 14 percent of its locations.
Macy’s Inc. is set to shed about 14 percent of its stores this year while J.C. Penney Co. Inc. will also shutter about 14 percent of its locations.
The Latest
IndependentsApr 29, 2025
Maryland Jeweler to Close After 36 YearsG.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.
ColumnistsApr 29, 2025
Google Ads vs. Social Media Ads: Which Are More Effective?Emmanuel Raheb outlines the differences between the two platforms and posits that the most successful jewelers use both.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2025
Gemfields Mini Ruby Auction Achieves $7MThe miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels JewelryU.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket CollectionHealth monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant RecipientsTen organizations were selected this year.
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale TeamKim Carpenter and Sam Gevisenheit have joined the brand.
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
