Kmart president and chief member officer Alasdair James has left the company, Business Insider has learned.
James, who has been with Sears since 2014, is the third top executive to leave Sears Holdings, which owns the Kmart brand, within the last three months.
Jeffrey Balagna, formerly Sears’ executive vice president, and Joelle Maher, Sears’ president and chief member officer, left in December.
James’ name was scrubbed from the company website on Wednesday, which is routine practice for Sears when it loses a top executive. The company does not announce the departures.
Sears has not responded to a request for comment on James’ departure and James could not be reached for comment.
Sears is under pressure from years of plunging sales, and many analysts have predicted that the company could soon declare bankruptcy.
Moody’s Investors Service has repeatedly highlighted concerns about the viability of the Kmart business, in particular, since September.
Sears’ losses grew nearly 5% to $US607 million in the fourth quarter, and same-store sales, or sales at stores open at least a year, fell 10.3%. Earlier this year, Sears announced it planned to close 150 Sears and Kmart stores by April. The company now has fewer than 1,500 stores, down from 2,073 five years ago.
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