Sears closing stores in Springfield, Peabody

Sears closing stores in Springfield, Peabody

Sears closing stores in Springfield, Peabody

The company informed associates at 15 Kmart stores and 48 Sears stores that the stores will close in early September.

Sears said on Thursday it had identified 100 non-profitable Kmart and its namesake outlets and would shut 72 of them by the end of the third quarter.

Earlier on Thursday, the retailer announced that it would close 72 stores but, pulled nine stores from the list that will also be evaluated further.

In a news release, the company announced its first quarter financial results, which included a net loss "attributable to Holdings' shareholders of $424 million ($3.93 loss per diluted share) for the first quarter of 2018".

Total revenues for the quarter fell 31 percent to $2.89 billion from $4.20 billion in the prior-year quarter, with store closures contributing to almost two thirds of the decline.

NEW YORK (AP) - Sears will close over 60 more stores as sales shrink and losses grow, an announcement that has become a familiar refrain as the company retrenches.

Sears has not given information about how many employees are at the Sanford store.

"For malls to survive they have to be more than just retail now", Walsh said.

Sears CEO Eddie Lampert has been criticized as being distant, neglecting stores and customer service, and not innovating enough to keep the company evolving with the times.

Liquidations sales are expected to start as soon as June 14.

A quarterly report the company filed Thursday with the U.S. Securities & Exchange Commission states it had closed 67 Kmart stores and 41 Sears Domestic stores during the 13-week period ended May 5.

The stores will join the hundreds nationwide that the struggling retailer has closed in recent years.

By mid summer, Sears will have no stores in the city of Chicago.

"Sears has had wonderful real estate for decades, so most of it will be backfilled in the years to come", says Scardino.

Sears also said it will at least explore selling its DieHard brand of auto parts and accessories and its home improvement products and PartsDirect businesses.

Related news