Published: Fri, August 25, 2017
World Media | By Shelia Harmon

Kmart in Belleville among 28 stores being closed by money-losing Sears

Kmart in Belleville among 28 stores being closed by money-losing Sears

Sears Holdings Corp. said Thursday that it will close 28 additional Kmart stores nationwide, including four in California, as the retailer continues to struggle with declining sales.

Sears Holdings said that employees at the 28 stores have been informed. But there are two stores in Pennsylvania - one in Willow Grove and one in Allentown - that will be shuttered.

The Massillon store, located at 2600 Lincoln Way E, will close in mid-November, with a liquidation sale possibly beginning as soon as August 31.

Total sales fell to $4.37 billion, from $5.66 billion, primarily due to store closures, Sears said.

The overall sales of same stores drop of 11.5% included a drop of 9.4% at Kmart locations and 13.2% at Sears locations.

The Hoffman Estates, Illinois-based company still managed to narrow its losses to $251 million, compared to $395 million a year ago. In all, the company has closed 180 locations in the past year.

The company blames lack of store traffic and elevated price competition.

Just last month, Sears said it would begin selling Kenmore-branded and Alexa-enabled appliances on Amazon. "The comprehensive restructuring of our operations is delivering cost efficiencies helping drive improvements to our operating performance".

Sears, once the largest retailer in America, has closed hundreds of stores and sold off assets in an effort to improve its bottom line. Excluding one-off charges, Sears lost $1.16 per share.

Edward Lampert, Sears Holdings chairman and CEO, said, "We are making progress on the strategic priorities we outlined earlier this year and remain focused on returning our company to profitability".

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