Sears will close 72 more stores after $424 million first-quarter loss
5:57 AM, May 31, 2018
2:30 PM, May 31, 2018
NEW YORK - Sears Holdings announced on Thursday morning that it will close 72 more stores after reporting a $424 million first-quarter loss.
According to the company, as part of their efforts to streamline operations and focus on the best stores, they identified 100 non-profitable stores in the company, 72 of which will begin closing in the "near future."
Sears released a list of stores it plans on closing.
In January, Sears said it would lay off about 220 people from its corporate offices, effective immediately. Earlier that month, they also said it planned to cut $200 million this year.
The company closed hundreds of stores in 2017 and already intended to close 103 more this spring, not including the 72 they now plan to close.