Sears to close Kmart on E. State Street in Rockford

Sears closing 72 more stores as sales plunge

Sears to close another 72 stores after sales plunge

Sears is closing its store at the Empire Mall in Sioux Falls.

Sears Holdings, the struggling department store chain, said Thursday it would close another 72 Sears and Kmart stores as sales plummeted, continuing the decline of what was once the country's largest retailer.

Liquidation sales are expected to begin June 14, and closures are expected to begin in September. While Lehigh Valley stores were spared in this latest round, three Pennsylvania stores were on the list: a Kmart in Latrobe, Westmoreland County, and two Sears in the Pittsburgh area.

This is the second anchor store that has recently announced its closure at the Empire Mall.

The company stated it would close its last Chicago location, which had been open for 80 years, in April.

Overall, Sears reported a $424 million loss in the first quarter of 2018 compared with a $245 million profit during the year-ago period.

The full list of store closings can be found here.

The company said the 72 stores would begin to start closing "in the near future", and that it will soon release a list of affected locations.

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The plan was for Chelsea to move in for the 2020/21 season and the club would move out for three seasons before this. The new stadium was announced in December 2015, and would have increased capacity from 41,600 to 60,000.

Revenue fell 31.2 percent to $2.89 billion in the reported quarter.

And the retailer says it will continue to evaluate its network of stores, and will make further adjustments as needed and as warranted.

Big box retailers such as Sears have been hit hard in recent years.

Topeka's Sears is closing its doors for good this fall.

Shares of Sears tumbled another 3 percent on the results in premarket trading.

"You've basically closed half the store base over the last few years and your "best" stores are still negative 12 percent", he said. Its chief executive, billionaire Eddie Lampert, has said the company should sell its well-known appliance brand Kenmore, home improvement businesses and real estate, and that his hedge fund ESL Investments Inc would bid for them.

There are also independently owned Sears Hometown stores in East Wareham, Great Barrington and Hadley.

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