57 Sears Stores at Stake in Michigan

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
57 Sears Stores at Stake in Michigan

© https://www.flickr.com/photos/10542402@N06/

As people read about the chance that Sears Holdings Corp (NASDAQ: SHLD) will close all its stores, the story about the individual locations and people who work in them gets lost. One example is the 57 Sears stores in Michigan, which dot large cities, the suburbs and some semirural areas. They are peppered through malls and standalone locations.

Presumably, each Sears store employs 50 to 100 people, based on the company’s worker count. Some cities have more than one Sears, which may be part of the retailer’s problem, although some of these offer products and services that are different from one another.

In the state’s capital, Lansing, Sears has a main store, an auto center and an appliance outlet. Three locations, the cost of real estate for each one and perhaps 150 to 300 workers. These people are not a large part of the Lansing population, which will not count much to them if they become unemployed.

[nativounit]

It is telling that Detroit, once the largest and most vibrant city in Michigan, only has two locations. It is almost certain that 50 years ago, this store count was much larger. That is another Sears problem. It once had large anchor stores in some of America’s old industrial cities. Now those are gone as the cities have shrunk. Grand Rapids, still one of the state’s largest cities and a former manufacturing center, does not have a single Sears location.

Michigan has a typical Sears store map. Sometime soon, that map of locations may be empty.

[recirclink id=498487]

[wallst_email_signup]

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618