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Sears is closing 72 more stores

Sears is closing 72 more stores

Sears is closing another 72 stores after reporting first-quarter losses and plunging sales.

The beleaguered retailer said it will close 15 Kmart stores and 48 Sears stores will be closing in early September 2018.

The Sandy Hollow and Belvidere locations closings had previously been announced. "To the mall's credit, they didn't sit around waiting for the demise". A Kmart in Ridgecrest - which is in Kern County - is the only other California store on the list. There will also be a new entry to the mall, with restaurants on both sides. Most recently in January, the embattled company announced the shuttering of 64 Kmart stores and 39 Sears stores, adding to the hundreds of closures that have taken place over the past few years. In the latest period, Sears said roughly two-thirds of its sales decline was tied to store closures.

Here's a full list of stores expected to close this year.




After this round of closures, the company will have about 800 stores, down from about 1,000 at the end of a year ago and far below the 2012 peak of 4,000 stores.

Sears said sales dropped 30 percent in the most recent quarter, leading to a loss of $424 million.

The Lihue Kmart store at 4303 Nawiliwili Road is one of the stores slated to close, according to the latest list released by Sears Holdings today.

The one-time powerhouse retailer that survived two world wars and the Great Depression has been calving off pieces of itself as it burns through money. Sales have fallen for more than six straight years despite efforts to revamp stores, stock more mattresses and appliances, and partner with sites like Amazon.

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