Evergreen Way Kmart to close in September

EVERETT — The Kmart store at 8102 Evergreen Way plans to close in mid-September as the company reduces its on-going expenses and seeks to transform its business model.

The store has 65 employees, most of whom are part-time or hourly, said Howard Riefs, director of corporate communications for the Sears Holdings Corp., which operates both Sears and Kmart, in an email.

Those employees can apply for jobs at nearby stores within the company. Employees who are eligible also will receive severance, Riefs wrote.

Kmart has occupied that corner of Everett for 48 years, opening in September 1966. The only other Kmart in Snohomish County is in Marysville and that store won’t be affected, Riefs wrote.

The store will begin a liquidation sale Thursday.

The closure is part of a corporate-wide effort to cut costs and adjust the company’s asset base, Riefs wrote.

“These actions will better enable us to focus our investments on serving our customers and members through integrated retail – at the store, online and in the home,” Riefs wrote.

Last winter, Kmart and Sears suffered through what CEO and hedge fund billionaire Eddie Lampert called a “tough to terrible” holiday season for the company.

Lampert combined Sears and Kmart in 2005, about two years after he helped bring Kmart out of bankruptcy. It faces mounting pressure from nimbler rivals like Wal-Mart Stores Inc. and Home Depot.

Sears is shifting away from its focus on running a store network into a member-focused business. Loyal shoppers receive incentives to buy. Its results have been hurt as it continues traditional promotions while investing in its membership program dubbed Shop Your Way.

More in Herald Business Journal

Nordstrom suspends buyout after struggling to get financing

A buyout was meant to help the company continue turnaround efforts outside the glare of market scrutiny.

More self-awareness could help build a better medical system

Marcy Shimada of Edmonds Family Medicine writes the second in a series about fixing our health care system.

Justices to hear government’s email dispute with Microsoft

A lower court ruled emails in a drug case couldn’t be searched because they were in Ireland.

Bombardier to partner with Airbus on C Series program

The move by Bombardier could possibly circumvent duties being imposed on the C Series.

Everett’s Access Laser sells majority stake to German company

Everett firm with 50 employees makes lasers for scientific, medical fields and self-driving vehicles

Innovation Resource Center’s advice for budding inventors

Got the next great idea? The Buildit NOW program stands ready to help you.

Mountain Pacific Bank to host Economic Forum in Everett

Mountain Pacific Bank’s Economic Forum is from 7:30 to 9:30 a.m. Wednesday… Continue reading

Career-community resources fair planned this week at EdCC

Edmonds Community College will host a free fall quarter career fair featuring… Continue reading

Most Read