KHTS Radio Santa Clarita Radio – Santa Clarita News
The Kmart location on Valencia Boulevard is closing their doors this weekend, with the last day of operations set for Sunday, Nov. 19, the company announced earlier this year.
Sponsored Articles
Sears, which owns Kmart, announced the closures in a statement on its website back in August of 2017.
The move follows the announcement that despite revenues of more than $4 billion, a loss of $144 million led the corporation to seek “substantial liquidity generated through several transactions.”
Kmart comparable store sales decreased 9.4 percent for the most recent quarter, with a 6.8 percent decline excluding the impact of the consumer electronics and pharmacy categories, while Sears comparable store sales declined 13.2 percent, with a 12.1 percent decline excluding consumer electronics category, according to information Sears published on its website.
See Related: Kmart Location On Valencia Blvd, Near Bouquet Canyon, To Close In November
“The retail environment remained challenging, with continued softness in store traffic and elevated price competition, however, we are encouraged that the month of July was the best month of the quarter in terms of comparable store sales performance,” according to a statement from the company.
A total of 28 Kmart stores were among the announced closures in August, which a statement on the Sears website noted is part of an effort “to transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.”
A store manager confirmed employees were told in August the last day of operations would be in November and the store would be empty by December 1.
As Santa Clarita’s only local radio station, KHTS mixes in a combination of news, traffic, sports, and features along with your favorite adult contemporary hits. Santa Clarita news and features are delivered throughout the day over our airwaves, on our website and through a variety of social media platforms. Our KHTS national award-winning daily news briefs are now read daily by 34,000+ residents. A vibrant member of the Santa Clarita community, the KHTS broadcast signal reaches all of the Santa Clarita Valley and parts of the high desert communities located in the Antelope Valley. The station streams its talk shows over the web, reaching a potentially worldwide audience. Follow @KHTSRadio on Facebook, Twitter, and Instagram, and sign up for KHTS email and text alerts today!
Interestingly, although the Sears Holding Company owns Kmart and Sears, the Holding Company is not the original Sears. Sears was doing so badly that Kmart bought it but decided to name the new holding company the Sears Holding Company. Kmart actually owns Sears. Of note is that when the store opened it was in Saugus; the Valencia Zip code was gerrymandered to take in the Kmart shopping center and surrounding area. Sad.
Just so sad to see another store fall victim to the economy and not being able to keep up Amazon and Walmart’s competition . There are many name brands that they carry that will be missed . Also, my mother-in-law had a whole career with the Kmart Corporation , not that particular location but 25 years with them . She was lucky to retire from there and get a pension before she passed away .
Kmart is a product of bad management. There is a lot of corruption among the top. I refuse to shop there. They are going out of business and it’s so sad because Kmart original owner cared but the people that run it today are out for themselves. The store looks like a run down dollar store. Glad they are gone.
Patrick is 100% correct Kmart is the actual owner. The original Sears Stock was on the NYSE, while Kmart (Kmart Corporation) was on the NASDAQ, which today still is on the NASDAQ under SHLD. Eddie Lamberts original plan was to place the best of both stores into one store which was going to be a great idea. The slogan was “buy a refrigerator and a roll of toilet paper at the same time.” The name was going to be ” Kmart Sears store” “K” in dark green “mart” in light green “Sears” in red and “store” in blue.
Sadly the name ended up as “SEARS essentiials.” 50 Kmart stores had converted into SEARS essentials, and the only thing that was Kmart inside was the health an beauty dept. and the pet dept. The rest of the store was all SEARS, after a year the name was dropped and changed to SEARS Grand. Today as far as I know only 3 of these are still open. Why Eddie Lambert won’t just ldrop Sears completely and work on Kmart is really odd. Most americans stilll want there Kmart store to shop at, Sears is a peice of american history, but its over. 7 out of 10 americans have not stepped foot into a SEARS store 10 the last 10 years. Its odd also that a very sucessful K-Dollar format had opened in Ohio, 3 stores only but they was packed with customers. This was to compete with Dollar General. They opened 4 years ago, today gone, why ???? Its interesting how Burbank Kmart i and North Hollywood Kmart are doing really good, both have Target and Walmart close by. And now the entire Santa Clarita Valley, Antelope Valley now have none. But any way sad to say but Black Friday 2018 I don’t think there will be a Kmart sale.
Yes its true with the Saugus city name, except for Saugus Speedway, I p think the name Saugus has basically disappeared.
It is truly a shame that Kmart is in the shape that it is. It was once a wonderful place to shop. You could get everything that you could possibly need under one roof. Poor management, greed, and not keeping up with current technology was the final nail in the coffin.