Sears Closing 63 More Stores – One in Arizona

MarketWatch is reporting Sears Holdings Corp. provided a list of the 63 Sears and Kmart stores that will begin store-closing sales “in the near future,” with others likely on tap to be shuttered down the road.

Its stock SHLD, -5.70%  plunged 19% trade Friday to suffer the biggest one-day drop since June 2015, according to FactSet data. The stock had tumbled 12.5% Thursday after the struggling department-store chain reported before the open that it swung to a loss of $424 million in its fiscal first quarter, as revenue and same-store sales continued to decline. Sears said store closures contributed to nearly two-thirds of the decline in revenue.

The following is the list of 15 Kmart stores and 48 Sears stores, in a total of 28 states, that will begin closing in early September. Of the Sears stores that are closing, 40 have auto centers that are closing between early June and late July.

Sears said Thursday it had closed 67 Kmart stores and 41 Sears stores during the 13 weeks ended May 5 and closed 303 Kmart stores and 123 Sears stores in 2017.

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