- Sears says it’s closing another 10 stores, on top of the 68 closings it has announced within the last month.
- The full list of closings includes 16 Kmart stores and 62 Sears stores.
- The company disclosed that it would close dozens of stores as it announced that revenue dropped by more than 30% for the quarter, to $US2.9 billion.
- Sears previously announced 166 store closings that took effect this year.
- The company has been quietly closing additional stores over the past several months, Business Insider reported.
Sears is closing another 10 stores, on top of the 68 closings the company recently announced.
The new list, which the company posted on Friday, includes Sears stores in California, Florida, Michigan, New York, Oklahoma, Virginia, and Wisconsin. Closing sales will begin in July, and the stores will close by September.
Sears is closing more stores as the company’s sales continue to slide, with revenue falling in the most recent quarter by more than 30%, to $US2.9 billion, from $US4.2 billion in the year-ago period.
Same-store sales during the period dropped by 13.4% at Sears stores and by 9.5% at Kmart.
Sears previously announced 166 store closings that took effect this year, but the company has been quietly closing additional stores over the past several months, as Business Insider has reported.
Sears has cut its store count in half within the past five years. The company had 894 stores as of May 5, down from 1,980 stores in 2013.
The company is looking to raise cash through a potential deal with ESL Investments, the hedge fund run by Sears’ CEO, Eddie Lampert.
In April, Lampert proposed that ESL Investments purchase Sears’ Kenmore brand, its home-improvement business, its Parts Direct division, and some of the company’s real estate.
“While we are pleased with the progress on our capital structure initiatives, we are continuously exploring additional opportunities to further streamline operations and adjust inventory and operating expenses,” Sears CFO Rob Riecker said in a statement.
The company, Riecker added, “will need to continue to right-size our store base and focus on our best stores, including our new smaller store formats.”
Here’s the list of stores closing. The newest additions are in bold.
- 910 North China Lake Blvd., Ridgecrest, California
- 9881 W. 58th Ave., Arvada, Colorado
- 5400 E. Busch Blvd., Tampa, Florida
- 4303 Nawiliwili Road, Lihue, Hawaii
- 2535 Hubbell Ave., Des Moines, Iowa
- 5909 E. State St., Rockford, Illinois
- 4070 Ryan St., Lake Charles, Louisiana
- 215 North Central Ave., Duluth, Minnesota
- 3180 Highway 2, West Havre, Montana
- 24-34 Barbour Ave., Clifton, New Jersey
- 2100 Carlisle Ave., Albuquerque, New Mexico
- 1000 Montauk Highway, West Babylon, New York
- 25301 Rockaway Blvd., Rosedale, New York
- 12350 NE Sandy Blvd., Portland, Oregon
- 1072 Mountain Laurel Plaza, Latrobe, Pennsylvania
- 5000 San Dario Ave., Laredo, Texas
- 10001 N. Metro Parkway, West Phoenix, Arizona
- 100 S. Puente Hills Mall, City Industry, California
- 6000 Mowry Ave., Newark, California
- 145 W Hillcrest Dr., Thousand Oaks, California
- 425 Union St., Waterbury, Connecticut
- 7902 Citrus Park Town Center, Tampa, Florida
- 320 Towne Center Circle, Sanford, Florida
- 451 East Altamonte Drive, Altamonte Springs, Florida
- 2201 Henderson Mill Road NE, Atlanta, Georgia
- 1300 Southlake Mall, Morrow, Georgia
- 2100 Pleasant Hill Road, Duluth, Georgia
- 320 W. Kimberly Road, Davenport, Iowa
- #2 Hawthorn Center, Vernon Hills, Illinois
- #2 Fox Valley Center, Aurora, Illinois
- 6136 W. Grand Ave., Gurnee, Illinois
- 104 West White Oaks Mall, Springfield, Illinois
- 2415 Sagamore Parkway S, Lafayette, Indiana
- 40 Muncie Mall, Muncie, Indiana
- 6020 E. 82nd St., Indianapolis, Indiana
- 1781 SW Wanamaker Road, Topeka, Kansas
- Alexandria Mall, Alexandria, Louisiana
- 4800 Millhaven Road, Monroe, Louisiana
- 3601 Southern Ave., Shreveport, Louisiana
- 2950 E. Texas St., Bossier City, Louisiana
- Highways 114 and 128, Peabody, Massachusetts
- Eastfield Mall, Springfield, Massachusetts
- 300 W. 14 Mile Road, Troy, Michigan
- 3191 S. Linden Road, Flint, Michigan
- 18900 Michigan Ave., Dearborn, Michigan
- 14100 Lakeside Circle, Sterling Heights, Michigan
- 1212 S. Airport Road W, Traverse City, Michigan
- Shingle Creek Crossing, Brooklyn Center, Minnesota
- Miller Hill Mall, Duluth, Minnesota
- 250 S. County Center Way, St. Louis, Missouri
- #1 Chesterfield Mall, Chesterfield, Missouri
- 1000 Turtle Creek Drive, Hattiesburg, Mississippi
- 1515 Grand Ave., Billings, Montana
- 3420 Oak View Drive, Omaha, Nebraska
- 2800 S. Columbia Road, Grand Forks, North Dakota
- 300 Quaker Bridge Mall, Lawrenceville, New Jersey
- 2341 Route 66, Ocean, New Jersey
- 2501 Mt. Holly Road, Burlington, New Jersey
- 10000 Coors Bypass NW, Albuquerque, New Mexico
- 3649 Erie Blvd. E, Syracuse, New York
- 4155 State Route 31 ,Clay, New York
- 2400 Elida Road, Lima, Ohio
- 17271 Southpark Center, Strongsville, Ohio
- 4400 S Western Ave., Oklahoma City, Oklahoma
- 300 S. Hills Village, South Hills, Pennsylvania
- 1000 Robinson Center Drive, Pittsburgh, Pennsylvania
- 205 W. Blackstock Road, Spartanburg, South Carolina
- 3101 N. Main Street, Anderson, South Carolina
- 3400 Empire Mall, Sioux Falls, South Dakota
- 2931 Knoxville Center Drive, Knoxville, Tennessee
- 2401 S. Stemmons Freeway, Lewisville, Texas
- 1800 Green Oaks Road, Fort Worth, Texas
- 11200 Lakeline Mall Drive, Cedar Park, Texas
- Golden Triangle Mall, Denton, Texas
- 4588 Virginia Beach Blvd., Virginia Beach, Virginia
- 1401 Greenbrier Parkway, Chesapeake, Virginia
- 4502 S. Steele St., Tacoma, Washington
- 53 West Towne Mall C, Madison, Wisconsin
Business Insider Emails & Alerts
Site highlights each day to your inbox.