Sears and its subsidiary Kmart recently announced plans to close at least 50 stores sooner than expected.
Reportedly, the original plan was to close unprofitable stores over the coming months.
SEE ALSO: MySpace was just acquired by 94-year-old magazine company Time
The rush to close this group now makes some sense, though. Sears' stock has been hovering around a 12-year-low, and its expected fourth quarter total revenue is almost a billion dollars lower than the year before.
Compared to major department stores like J.C. Penney, Macy's and Kohl's, Sears and Kmart had the worst holiday sales.
In fact, many Wall Street analysts reportedly don't even track Sears anymore. Analysts have said the company isn't "viable as a retailer in its current form."
Last year, to gain funds, Sears sold assets like Sears Canada and Lands' End. But many are pointing out Sears' assets are running thin by now, making the need to close stores even greater.
More on AOL.com:
Whole Foods CEO predicts an explosive change in how Americans eat
Twitter has rolled out the product change everyone was freaking out about -- and it's no big deal
Macy's is adopting a strategy from more than 100 years ago to save its business
- People Who Retire Comfortably Avoid These Financial Advisor Mistake…
- The Worst Way to Withdraw From Retirement Accounts
- 2020: How to Maximize Your Savings
- Historic Refi Rate Alert: 1.99% APR. Can you save?
- Need Cash? How to Access Your Home's Equity
- Experts Recommend to Refi Before Rates Keep Rising
- Home Mortgage Rates Drop Sharply This Week
- HARP Refinance Program is Over. Now What?
- Digital Mortgage Platform Helps Home Buyers Shop for Mortgages
- Forget the 30yr mortgage if you owe less than $822K (Do this instea…
- How to pay off your house ASAP (So simple it's unbelievable)
- Congress Gives Veterans A Generous Mortgage Relief Program
- Want To Travel Practically Free? (Get 100k points fast)
- Do You Know the Fastest Way to Pay Off Credit Card Debt?
- Pay No Interest Until Nearly 2023 With A Better Credit Card