Sears will close at least 63 more stores as sales plunge and losses mount.
The company closed nearly 400 stores during the past 12 months, and now has a total of 894 left, including the 63 slated for closure. The two chains had a total of 3,500 US stores between them when they merged in 2005.
The company initially announced plans Thursday to close 72 stores, but pulled back slightly and released a list of only 63 stores slated for closing — 48 Sears stores and 15 Kmart stores, spread across 29 states. The company said the nine additional stores that it initially planned to announce would close will be evaluated further.
Loss In Revenue
Sears said overall revenue fell 31 percent in the three months ending May 5. While most of that decline was due to previous store closings, sales fell 12 percent at the stores that remained open.
The lower sales resulted in a $424 million loss for Sears Holdings, the holding company that owns by Sears and Kmart. The company has lost more than $11.2 billion since 2010, its last profitable year.
Shares of Sears tumbled another 13 percent on the results in afternoon trading.
The list from Sears Holdings includes 48 Sears stores and 15 Kmart stores, spread across 29 states. They were selected from a list of 100 non-profitable stores Sears said it had identified for closure “in the near future.”
The move is the latest sign of the retailer’s struggle to stay afloat. It has closed nearly 400 stores in the past 12 months as sales plunge and losses mount.
Workers at the stores will receive severance and can apply for open positions at other Sears stores, the company said.
Liquidation sales begin June 14.
Here’s the list of 63 stores:
Sears 10001 N Metro Parkway West Phoenix AZ
Sears 100 S Puente Hills Mall City Industry CA
Sears 7902 Citrus Park Town Center Tampa FL
Sears 320 Towne Center Circle Sanford FL
Sears 2201 Henderson Mill Road N.E. Atlanta GA
Sears 1300 Southlake Mall Morrow GA
Sears 2100 Pleasant Hill Road Duluth GA
Sears 320 W Kimberly Road Davenport IA
Sears #2 Hawthorn Center Vernon Hills IL
Sears #2 Fox Valley Center Aurora IL
Sears 6136 W Grand Avenue Gurnee IL
Sears 104 West White Oaks Mall Springfield IL
Sears 2415 Sagamore Pkwy S Lafayette IN
Sears 40 Muncie Mall Muncie IN
Sears 6020 E 82Nd Street Indianapolis IN
Sears 1781 Sw Wanamaker Road Topeka KS
Sears Alexandria Mall Alexandria LA
Sears Hwys 114 & 128 Peabody MA
Sears Eastfield Mall Springfield MA
Sears 3191 S Linden Road Flint MI
Sears 18900 Michigan Avenue Dearborn MI
Sears 14100 Lakeside Circle Sterling Heights MI
Sears 1212 S Airport Road W Traverse City MI
Sears Shingle Creek Crossing Brooklyn Ctr MN
Sears Miller Hill Mall Duluth MN
Sears 250 S County Center Way St. Louis MO
Sears #1 Chesterfield Mall Chesterfield MO
Sears 1000 Turtle Creek Drive Hattiesburg MS
Sears 1515 Grand Avenue Billings MT
Sears 2800 S Columbia Road Grand Forks ND
Sears 300 Quaker Bridge Mall Lawrenceville NJ
Sears 2341 Rt 66 Ocean NJ
Sears 2501 Mt Holly Road Burlington NJ
Sears 10000 Coors Bypass N.W. Albuquerque NM
Sears 3649 Erie Blvd E De Witt / Syracuse NY
Sears 2400 Elida Road Lima OH
Sears 17271 Southpark Center Strongsville OH
Sears 300 S Hills Village Pittsburgh / South Hills PA
Sears 1000 Robinson Center Drive Pittsburgh PA
Sears 205 W Blackstock Road Spartanburg SC
Sears 3101 N Main Street Anderson SC
Sears 3400 Empire Mall Sioux Falls SD
Sears 2931 Knoxville Center Drive Knoxville TN
Sears 2401 S Stemmons Freeway Lewisville TX
Sears 1800 Green Oaks Road Fort Worth TX
Sears 11200 Lakeline Mall Drive Cedar Park TX
Sears Golden Triangle Mall Denton TX
Sears 4502 S Steele Street Tacoma WA
Kmart 910 North China Lake Blvd Ridgecrest CA
Kmart 9881 W 58Th Avenue Arvada CO
Kmart 5400 E Busch Blvd Tampa FL
Kmart 4303 Nawiliwili Road Lihue HI
Kmart 2535 Hubbell Avenue Des Moines IA
Kmart 5909 E State Street Rockford IL
Kmart 4070 Ryan Street Lake Charles LA
Kmart 215 North Central Avenue Duluth MN
Kmart 24 34 Barbour Avenue Passaic / Clifton NJ
Kmart 2100 Carlisle Avenue Albuquerque NM
Kmart 1000 Montauk Highway West Babylon NY
Kmart 25301 Rockaway Blvd Rosedale NY
Kmart 12350 N E Sandy Blvd Portland OR
Kmart 1072 Mountain Laurel Plaza Latrobe PA
Kmart 5000 San Dario Laredo TX
Written by Chris Isidore and Aaron Smith for CNN.
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