Earlier this year, Sears Holdings (SHLD) shut 30 Sears and Kmart stores after a disastrous holiday season. It's currently in the process of closing 150 underperforming Sears and Kmart stores to preserve cash.
Two companies could be poised to win big by grabbing the discount chain's former customers. TJX (TJX) - Get Report , which owns T.J. Maxx, saw a 47% gain in its market share following the closure of a Kmart store. Walmart (WMT) - Get Report meanwhile had an 8% gain following the closure of a Kmart store.
"What we learned is that while a competitor's store closures might hurt in the short term, there is a sizeable opportunity to take advantage after closeout sales and closures are complete," points out Sarah Spagnolo, Foursquare's editor-at-large.
This article was written by a staff member of TheStreet.