Sears, 1 Kmart stores in N.J. set to close

Sears is closing at least 72 stores nationwide

Sears is closing at least 72 stores nationwide

Those stores will close by early September.

The retailer has identified 100 non-profitable stores in total, and it will begin closing sales at 72 of these stores "in the near future". The locations haven't been disclosed yet.

After the latest closings, there will be about 820 Sears and Kmart stores, down from about 2,000 locations five years ago.

Earlier this year, Sears sold its Crabtree Valley Mall property back to the mall for almost $20 million but signed a leaseback agreement.

The four MI stores being closed are the Sears stores located in Flint, Dearborn, Sterling Heights and Traverse City.

Sears announced Thursday morning that they planed to close another 72 stores as sales plunge and losses grow but later shortened the list to 63 as some stores be evaluated further. "By diminishing the quality of the in-store experience, Sears has basically trained consumers to avoid going inside".




Shares fell as much as 13 percent before the start of regular trading.

But the company has closed some North Carolina stores already.

That includes the Sanford store, one of our Sears department stores in Central Florida.

On Thursday afternoon, Sears Holdings released a list of stores that would soon be shuttered. In the first quarter, Sears reported a loss of $424 million, or $3.93 per share. Now it's hired a second set of advisers to re-shop its Kenmore appliance brand along with some home-services businesses. Last year's gain included $492 million from the sale of Sears' Craftsman tool brand to Stanley Black & Decker, a deal valued at roughly $900 million overall.

"This company is on life support", said Sucharita Kodali, a retail analyst for research firm Forrester.

Recommended News

  • Daesh claims deadly attack on Belgium police: propaganda agency

    Daesh claims deadly attack on Belgium police: propaganda agency

    Investigators said Herman's methods were encouraged in online videos produced by the Islamic State militant group. Two other police officers had been injured , a spokeswoman for the Liege public prosecutors office said.

    Serena Williams wins on return to Grand Slam tennis

    Williams is a four-time Olympian who has won one Olympic gold in singles and three in doubles with sister Venus Williams. But it wasn't just Williams' return to major championship tennis that caught everyone's attention.
    Lewis Hamilton calls on Monaco's organisers to ring changes

    Lewis Hamilton calls on Monaco's organisers to ring changes

    Finishing in second place ahead of Hamilton means that Vettel has closed the gap in the drivers championship to just 14 points. Hamilton thinks Ricciardo's advantage over the young Dutchman puts him in a good position when talking about his future.
  • Xiaomi Mi 8 Leaks: What's new from Xiaomi's Flagship

    Xiaomi Mi 8 Leaks: What's new from Xiaomi's Flagship

    Other features include a faceID competitor, 3300mAh battery will run on Android Oreo 8.1 so a total package for less than $700. The multitasking menu has been revamped, performance will be boosted, and gesture controls will also be present in MIUI 10 .
    Subtropical storm Alberto whips up mini waterspout in a swimming pool

    Subtropical storm Alberto whips up mini waterspout in a swimming pool

    A tornado threat exists in the front-right quadrants of the storm, which today is northern Florida and most of Georgia and SC . While the storm has not strengthened into a hurricane, it does threaten residents and vacationers across the US Southeast.
    Emergency Crews Searching For Man After Ellicott City Flood

    Emergency Crews Searching For Man After Ellicott City Flood

    Hogan said temporary improvements were in place and more things were in the works to reduce the community's vulnerabilities. Some people had to evacuate to the roofs of buildings until first responders could come to their aid.
  • 'PUBG' creators sue Epic Games over 'Fortnite' battle royale mode

    'PUBG' creators sue Epic Games over 'Fortnite' battle royale mode

    The game also sees up to 100 players land on an island, search for weapons and kill one another until one player is left standing. That said , evidence suggests the main source of conflict between the two game-makers isn't the actual battle royale mode itself.
    Major League Baseball  rumors: Red Sox dumping DH Hanley Ramirez | What it means

    Major League Baseball rumors: Red Sox dumping DH Hanley Ramirez | What it means

    When Ramirez's struggles this month continued, Cora said the team - and Ramirez - were better served with him gone. Dombrowski said the team informed Ramirez of the move early Friday morning. "Love you always", Ramirez tweeted.
    Qualifier 2 KKR vs SRH Live Streaming (SRH Won by 13 Runs)

    Qualifier 2 KKR vs SRH Live Streaming (SRH Won by 13 Runs)

    With Warner not participating in the 2018 IPL following the ball-tampering scandal, Williamson assumed the Sunrisers captaincy. CSK has proved from match to match that it's not the age but the experience that has brought them this far in the tournament.
  • Ivanka Tweets Photo With Son After Border Separations

    Ivanka Tweets Photo With Son After Border Separations

    Since October, more than 700 children have been separated from their parents, the New York Times reports . "They thought it was recent pictures in order to make us look bad, but backfires".
    Criminals claim they paid Australian batsmen during test match

    Criminals claim they paid Australian batsmen during test match

    The channel said there was no evidence to indicate any other Australia players had been involved or aware of the alleged plot. Raza has declined to respond to a request for comment from Al Jazeera but has since denied any connection with match-fixing.
    North, South Korean Leaders Vow To Meet ‘Frequently’

    North, South Korean Leaders Vow To Meet ‘Frequently’

    The meeting between Trump and the North Korean Leader have been in doubt as a result of the demands for the meeting to happen. The meeting came about a month after the first inter-Korean summit took place at a South Korean building inside Panmunjeom.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.