Laredo Kmart to close its doors

Laredo Kmart to close its doors

Laredo Kmart to close its doors

(Sears initially said Thursday that 72 stores would close, then later revealed that some of the planned closures were being reevaluated).

The latest round of closures - which will begin in early September - includes more than a dozen Kmart locations, as well as Sears stores in Atlanta, Indianapolis and Tampa.

Comparable sales were down 9.5% for the Kmart business and fell 13.4% at Sears stores.

Sears Holdings now operates five Sears locations on Long Island: in Garden City, New Hyde Park, Lake Grove, Massapequa and Valley Stream.

Four of the stores are located in MI, one of which is in Traverse City.

The auto center at the Tacoma Sears will close in late June.

On May 5, there were 529 Sears stores and 365 Kmarts in the United States and two US territories - Puerto Rico and the Virgin Islands, a company spokesman said.

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Sears will close another 72 stores as sales plunge and losses grow.

"While we had a challenging first quarter, we remain focused on improving our financial performance and enhancing our liquidity", Sears Chief Executive Officer Eddie Lampert said.

Sears leadership said in a statement the stores closing were not profitable.

"The Company generated total revenues of approximately $2.9 billion during the first quarter of 2018, compared with revenues of $4.2 billion in the prior year quarter, with store closures contributing to almost two thirds of the decline", Sears reported Thursday morning.

Lampert, who put Sears and Kmart under one company after helping pull Kmart out of bankruptcy, has long said hed save the famed department store. And earlier this year the company closed its last Kmart in Wichita.

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

Shares are down more than 3 percent before the opening bell. Last year, it sold its Craftsman tools brand to Stanley Black & Decker Inc.

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