Sears to buy up to 54 Kmarts, lease seven Wal-Marts - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Sears to buy up to 54 Kmarts, lease seven Wal-Marts

Updated:
(Detroit-AP) -- Hoffman Estates(Illinois)-based Sears, Roebuck and Company is going on a shopping spree.

Sears has agreed to buy up to 54 stores from Kmart for up to 621 (M) million dollars.

And Sears says it's also agreed to acquire the leases on seven Wal-Mart stores.

Sears chairman Alan Lacy says the transactions are designed to jump-start his company's strategy to promote Sears' brand in off-mall locations. Lacy says Sears also wants to increase its points of distribution and acquire well-located real estate.

The exact number of Kmart stores involved in the deal announced today hasn't been determined. Kmart will continue to operate the stores until March or April 2005 and says Sears has agreed to consider offering jobs to Kmart employees.
  • NewsMore>>

  • Tulsa Zoo Welcomes New Baby Giraffe

    Tulsa Zoo Welcomes New Baby Giraffe

    The Tulsa Zoo has a new resident Lexi the Giraffe has given birth the calf is already up on its feet. Observers say Lexi is an attentive mother. Animal care staff will continue monitoring both mama and baby for developmental milestones. 

    More >>

    The Tulsa Zoo has a new resident Lexi the Giraffe has given birth the calf is already up on its feet. Observers say Lexi is an attentive mother. Animal care staff will continue monitoring both mama and baby for developmental milestones. 

    More >>
  • Marijuana Activists Say They Are "Mad As Hell"

    Marijuana Activists Say They Are "Mad As Hell"

    As lawmakers work to figure out how to regulate medical marijuana, activists are pushing to legalize recreational marijuana. Demonstrators with "Green the Vote" marched through downtown Tulsa this evening.

    More >>

    As lawmakers work to figure out how to regulate medical marijuana, activists are pushing to legalize recreational marijuana. Demonstrators with "Green the Vote" marched through downtown Tulsa this evening.

    More >>
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.