The data shows foot traffic at Sears and Kmart was down 14% over the three days that followed Thanksgiving, compared to the same holiday weekend a year ago. Traffic was down 17% on Black Friday, 7% on Saturday and 16% on Sunday
The company is hoping to use the bankruptcy process to shed costs and close additional stores and emerge as a profitable and competitive retailer. But its own bankruptcy court attorneys have said that a strong holiday shopping season is crucial for its ability to stay in business.
"The weeks that are coming up are really critical for the company's ability to reorganize," said Ray Schrock, its attorney, at a bankruptcy court hearing a week before Thanksgiving.
Schrock predicted the company would be able to post an increase in sales compared to sales at the same stores a year earlier. But Sears has a string of sales declines dating back to 2010.
Sears' sales figures could take an even bigger hit this year as nearly 200 of the 700 stores it still had at the start of the holiday season are in the process of holding closing sales. Those sales include deep discounts on the price of its remaining inventory, and no restocking of items once they sell out.
https://www.cnn.com/2018/12/01/business/sears-holiday-shopping-traffic/index.html