Sears releases closure list, did Terre Haute's store make the cut?

Surrendering Stores       Sears and Kmart stores now number less than 1,000              Source Company filings Bloomberg

The current retail environment is hard for many stores, but Sears' performance is much worse than its rivals.

Sears is planning to close another 72 stores as sales shrink and losses grow, an announcement that has become a familiar refrain as the company retrenches.

The company said closing sales for the 63 stores would begin in June, and the stores would close by September.

The Illinois-based retailer had previously announced that 166 stores would close this year.

On Thursday afternoon, Sears released a list of stores set to close.

"The additional 100 store closures announced today is another effort to streamline in the face of its shrinking core operations", Moody's Vice President Christina Boni said. Sears' troubles include an aging business model and increased competition from dollar stores, home improvement chains, and, of course, Amazon.

With the Sears at Tech Ridge closing in April, that leaves fewer than 10 remaining open in the Austin area.




Sears Holdings Corp. kicked off another fiscal year with declining sales from a dwindling number of stores, and more closings are on the way.

The lower sales resulted in a $424 million loss for Sears Holdings (SHLD), the holding company that owns by Sears and Kmart.

Sears has stores in Auburn, Braintree, Brockton, Cambridge, Fall River (outlet), Hanover, Holyoke (both an outlet and a store), Hyannis, Leominster, Marlborough, Natick, North Attleboro, North Dartmouth, Peabody, Saugus, Shrewsbury (outlet), Springfield and Taunton. The company previous year said there were doubts about its ability to continue as a going concern.

Business Insider noted that revenue for Sears has dropped more than 30 percent in the most recent quarter. Amazon began selling Sears's Kenmore brand of ovens, washers and other appliances a year ago.

Sears has tried to sell those brands and businesses before.

The year-ago quarter had a $492 million benefit related to the sale of Sears' Craftsman brand.

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