Sears at Cottonwood Mall among nationwide closures

Sears Prepares for More Store Closings as Revenue Slumps

Lampert also owns part of Seritage Growth Properties, a real estate investment trust that purchased more than 200 Sears and Kmart stores from Sears Holdings in 2015 and then leased them back to Sears.

The company said it will disclose the locations of the store closures by mid-day Thursday.

The exact closing date and start of liquidation sales was not announced, but the company indicated they could begin by June 14.

The company said total revenue for the first quarter was $2.9 billion, down from $4.2 billion in the same quarter a year ago.

Shares of the struggling department store operator, which have lost almost all its in the last five years, fell 10 percent to $2.89 in premarket trading.

Sales at stores that had been open for at least a year dropped 11.9 percent.

Many will be searching for work after a retail giant announced plans to close nearly 100 stores. Worse, the retailer's sales base, seen in its comps, continues shrinking. Three other Sears locations in Vernon Hills, Aurora and Gurnee will also shut down, while a Kmart in Rockford is also expected to close its doors.




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

Sears did highlight positive comparable store sales at Kmart and Sears within several categories, including apparel, footwear and jewelry. Here's the the complete store closing list.

Sears is closing an additional 72 stores, the embattled retailer announced Thursday. The company's stock fell 12 percent, to $2.81, Thursday afternoon.

"It's tough for the employees, but I don't think anybody is terribly shocked", Peabody state Rep. Tom Walsh said. It operates five other Kmarts on the Island, in addition to the West Babylon store that will close.

The four MI stores being closed are the Sears stores located in Flint, Dearborn, Sterling Heights and Traverse City.

Sales fell 30 percent at Sears during the most recent quarter, leading to a $424 million loss.

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