ShoppingTown Sears employees say store will close in September

Sears to close at least 72 more stores

Some 400 Sears and Kmart stores have closed in the past year while the parent company continues to stay solvent.

Sears Holdings announced it would close 72 stores Thursday morning, May 31 but reduced that number to 63 closures after deciding to evaluate nine locations before making a decision. Liquidation sales are set to begin in June.

Heading into Thursday's announcement, Kmart and Sears had 30 stores in MA.

Sears has been closing stores on Long Island for years, the latest a location in Hicksville it shut down in April.

Sears Holdings announced Thursday its store at WestGate Mall in Spartanburg is among those the company is planning to close this summer. Other Michigan Sears locations closing include Dearborn, Sterling Heights and Traverse City.

The company's announcement came as it revealed more losses in its first-quarter earnings report. No other Washington state store was on the list. Stores in Roseville and Grand Rapids closed in the previous year.

When Sears and Kmart merged in 2005, they had a combined total of 3,500 stores.

The decline in comparable-store sales, a key metric in retail, should be "alarming" to investors, said Noel Hebert, a Bloomberg Intelligence analyst.

A full list of the 72 Sears and Kmart stores that will be closing amid plunging sales has been released.

Sears said it would reveal the list of closures later today.

The chain has closed nearly 450 locations in recent years.

The Eastfield Mall's owners, New Jersey's Mountain Development, have said their plan is to "demall" the property on Boston Road, demolishing most of the buildings and replacing it with a mixed-use housing, shopping, dining and office complex.

That marks the more than five years of straight quarterly sales drop, according to FactSet.

Altogether, the company lost about $424 million, which it says amounts to about $3.93 per share. Revenue fell more than 30 percent to $2.89 billion.

Related News:



Most liked

Kim Kardashian met Donald Trump at White House to discuss prison reform
Kardashian West appeared to preview the visit on her Twitter feed, writing: "Happy Birthday Alice Marie Johnson ". However, if Trump were to grant Alice clemency, it would go against his approach to drugs so far.

Moscow invites N.Korea's Kim to visit
Working-level parties from both North Korea and the United States are in the island state, looking into venues and logistics. Trump's letter, the aides said, was created to pressure the North on the worldwide stage for appearing to have cold feet.

Zidane departs as the second most successful coach in Real Madrid history
It does not seem as though Zidane was exhausted by the task of managing a high-profile club like Real Madrid . Zidane has won the Champions League four times at Real Madrid - three times as manager and once as a player.

One paisa petrol price cut: Is there no solution?
Diesel prices were at Rs 69.25 a litre, Rs 71.8 a litre, Rs 73.73 a litre and Rs 73.12 a litre respectively. It is doing nothing but mocking the unprecedented miseries and hardships of the common people.

Roma want to keep hold of Alisson
Speaking about the switch, Klopp said: 'We have signed a fantastic player, but someone who is an equally fantastic person I think. The scenes are still running through my head again and again. "These goals cost us the title, basically".

Activity continues with regularly changing erupting vents and flows
Geological Survey sent to Hawaii to respond to the eruption , are now working out of UH-Hilo. The lava has reportedly destroyed at least 82 structures and displaced thousands of people.

Apple Releases iOS 11.4 With Messages in iCloud and AirPlay 2
The iOS 11.4 update is available today. iOS users should get the notification on their iPhones and iPads to update their devices. The iOS 11 .4 update includes support for AirPlay 2 multi-room audio, support for HomePod stereo pairs and Messages in iCloud .

Person Missing as Extreme Flooding Rocks Ellicott City, Maryland
At the height of the storm, the water had risen above the first floor of some buildings, Howard County emergency officials said. At least one person has been reported missing so far. "We're certainly making every effort to locate that individual", he said.

Warriors’ Andre Iguodala ruled out for Game 7
Houston's Most Valuable Player candidate James Harden dominated early, finishing with 32 points, nine assists and seven rebounds. Yet, Warriors coach Steve Kerr downgraded Iguodala's status to "doubtful". "The guy's a machine".

Alberto approaches Panhandle, as more rain expected in Central Florida
It is expected that Alberto will bring heavy rainfall that will last well into the week and stretch into areas of the Ohio Valley. Meteorologists expect a 60 percent chance of rain with winds at 10 to 20 miles per hour , and gusts of up to 25 miles per hour .

Unexpected airport arrival: Dog gives birth at Tampa International
The puppies' father, Nugget, looked on during the birth. "Every time she's ready to deliver another one he starts jumping around". And even though they missed their flight, Van Atter is going hom e with some special souvenirs born in the Sunshine State.

Remnants of Subtropical Storm Alberto could reach Upstate NY this week
A tropical storm warning remained in effect stretching from Florida's Suwannee River to the border of Alabama and Mississippi. Alberto , the first named Atlantic storm of 2018, spun up days before the formal June 1 start of the hurricane season .

'It was really hard after Mo's injury'
Aziz added that Salah would hopefully be in the final list of Egypt's team at the World Cup, to be officially announced on June 4. However, many Liverpool fans were left angry and disappointed when Salah was brought down by Real Madrid defender Sergio Ramos .

Utah man, wife freed from Venezuela, return to US
Holt and his wife were being held at a prison in Caracas known as the Helicoide where the Sebin keeps political prisoners. Trump says 17 prisoners have been freed from overseas captivity since he's been president and that others would be coming.

Danica Patrick crashes out of final race at Indianapolis 500
Patrick, 36, had those same thoughts as she returned to Indianapolis after her 2005 debut at the track that sparked her career. Kanaan led at least one lap in his 14th Indy 500 to break a record he had shared with four-time race victor A.J.