Beleaguered iconic retailer Sears reportedly is planning to close 72 additional stores this year, in addition to 180 locations the company had previously announced it would shutter.
Business Insider reported that the company plans to shut 72 stores – most of them by September – including 49 Kmart stores, 16 Sears stores and seven auto centers. USA Today put the total at 66 and didn’t mention auto centers.
The financial woes of the Illinois-based company, whose name has been a trusted retailing icon for generations of Americans, have deepened dramatically in recent months.
Sears Holdings Corp., once the largest U.S. retailer, in March warned about its ability to continue as a going concern after years of losses and declining sales, Reuters reported.
However, the parent company of Sears and Kmart last month reported its first quarterly profit in nearly two years, as the retailer benefited from the sale of its Craftsman brand