Sears to close another 72 U.S. stores

Adjust Comment Print

Sears has cut its store count in half within the last five years. The company said it would release a complete list of the stores closing at midday today.

Sears, the struggling department store giant that's been shuttering stores for years, just announced a new round of store closures-and it's a doozy.

See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close.

"Customers can use the store locator function on our websites to find the location of their nearest Kmart and Sears stores", the company reports.

Tacoma will say goodbye to its Sears store at the Tacoma Mall in early September. Liquidation sales at Sears and Kmart stores reportedly start as soon as mid-June. All but the Cambridge and Peabody Sears stores also have an auto center.

The company previously announced it was closing 166 stores this year.

Allegran recalls birth control pills packaged in reverse order
The placebo pills, which are meant to be placed at the end of a 28-pill pack, were mistakenly placed at the beginning of the pack. Allergan is now notifying customers about the recall by letter, and arranging for the return of all recalled products.

Sears also hinted at more closures to come, saying the 72 stores are among a list of 100 unprofitable stores that the company has identified.

The additional USA closures come after Sears reported a more than 30 percent drop in sales when compared to the last quarter.

Another Mid-Michigan Sears store is closing its doors.

Here are the New Jersey locations that will being closing sales "in the near future". For instance, a North Babylon location it closed in 2012 on Deer Park Avenue is now occupied by arts and crafts chain Michaels.

Net loss attributable to the company was $424 million, or $3.93 per share, in the first quarter ended May 5, compared to a profit of $245 million, or $2.29 per share, a year earlier.

Revenue at Sears Holdings fell to about $2.9 billion in the quarter from $4.2 billion in the same period of 2017, with store closures contributing to almost two thirds of the decline, the company said. Revenue fell due to fewer stores and a 12 percent drop in same-store sales.