Sears is closing 72 stores as sales tumble

Sears closing 72 more stores as sales plunge

Sears to close another 72 stores after sales plunge

Sears says it is closing several Kmart and Sears stores.

Hit by plunging sales and a first-quarter loss, Sears said it will close another 72 stores.

Comparable-stores sales slid 9.5 percent at Kmart stores, and 13.4 percent at Sears.

Sears announced earlier Thursday that it will close at least 72 more Sears and Kmart stores "in the near future".

On Thursday afternoon, Sears released a list of stores set to close. The company had 894 stores as of May 5, down from 1,980 stores in 2013.

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

Sears has suffered from the same negative factors that have affected department stores and brick-and-mortar retail in general, but it has also faced unique challenges.

Sears at Chesterfield Mall and South County Center will close later this year as the retailer said it plans to shutter dozens more stores around the country.

Sears is closing its store at the Empire Mall in Sioux Falls.

Among the stores that will be closed in early September are the Sears stores in Aurora, Gurnee, and Vernon Hills.

Shares of Sears Holdings Corp., based in Hoffman Estates, Illinois, fell 11 percent, or 36 cents, to $2.86 on Thursday. Over a decade ago, Sears shares traded at around $100, but now sit around $3.

"I don't think there really is much hope for them remaining open because the sales are down so strongly and the company remains unprofitable".

That way consumers can have their tires shipped to Sears and put on locally, but get Amazon prices, according to Sears' earnings announcement. Last year, Sears sold its Craftsman brand to Stanley Black and Decker for $900 million.

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