ShoppingTown Sears employees say store will close in September

ShoppingTown Sears employees say store will close in September

ShoppingTown Sears employees say store will close in September

Parent company Sears Holdings, which includes Sears and Kmart stores, announced Thursday it will close another 63 stores. The company said that some of the stores were pulled from the list for further review. "Following is a list of the impacted stores".

They are just two of the 72 stores across the country troubled retailer Sears Holdings will shut down.

But, Sears Holdings again has announced it will close more stores - this time it will close 63 Sears and Kmart stores.

Liquidation sales at the closing stores will begin as early as June 14.

"Moving forward, we will continue to focus on our best stores, which remain a critical component of our transformation strategy as we shift to a member-centric integrated retail model", Riecker added.

Investors, though, didn't seem convinced.

More news: Police seek three suspects after bomb attack in Canadian city

'We believe these initiatives, among others, will help us to strengthen the Company and better position it for the future, ' he said. All but the Cambridge and Peabody Sears stores also have an auto center.

The company has closed almost 400 stores around the country in the past year.

Michael Staenberg's real estate development firm recently acquired the Sears building attached to Chesterfield Mall in an attempt to buy and redevelop the struggling mall.

Sears now has $5.2 billion in debt, up from $4.2 billion a year ago. The retailer sold its Craftsman line to Stanley Black & Decker for $900 million past year. "I think it's a good mix". Across the board, brick-and-mortar retailers have blamed their demise on consumers opting to shop more online. A Portland Kmart was the only other Northwest store listed in this wave of closures. Revenue was down 30 percent from a year ago but was mostly in-line with consensus analyst estimates of $2.86 billion.

The company generated total revenues of $2.9 billion during the first quarter of 2018, compared with revenues of $4.2 billion in the first quarter of 2017, according to the release. "It's baffling that Sears is still grasping at straws, but it's clear that its in a death spiral".

Related news