Although the company has not commented on the reports, Sears Holdings Corp. (NASDAQ: SHLD) is said to be closing 72 more stores by September. The company will close 49 Kmart stores, 16 Sears stores and seven auto centers, according to a report at Business Insider.
Earlier this year Sears said it planned to close 180 stores, and the new round of closures would be in addition to that number. Sears also sold its Craftsman brand to Stanley Black & Decker Inc. (NYSE: SWK) for about $900 million in January in an effort to get its balance sheet in order and remain a viable business.
More store closings are one way to cut costs. The downside, of course, is that revenues also decline.
The company also revised a $100 million repayment due this July on a $500 million loan from the company’s chairman and CEO, Edward S. Lampert.
Sears stock closed down about 2.5% on Tuesday at $6.61 and was inactive in Wednesday’s premarket session. The stock’s 52-week range is $5.50 to $18.18 and the consensus price target is $4.00, according to Market Watch.
Here’s Business Insider’s list of the most recently announced store closures:
Sears
- Chico, CA, store 2048
- Dalton, GA, store 2615
- Biloxi, MS, store 2256
- Asheboro, NC, store 2645
- Minot, ND, store 2152
- Vineland, NJ, store 2374
- Columbus, OH, store 1150
- Elyria, OH, store 1310
- Columbus, OH, store 1370
- Franklin, OH, store 2940
- Midwest City, OK, store 1261
- Richmond, VA, store 1445
- Columbia, SC, store 1525
- Texarkana, TX, store 2567
- Sherman, TX, store 2627
- St. George, UT, store 2220
Kmart
- Dothan, AL, store 3082
- Muscle Shoals, AL, store 7045
- Little Rock, AR, store 3120
- Bullhead City (Riviera), AZ, store 3375
- Blythe, CA, store 3881
- Sacramento, CA, store 4117
- Manteca, CA, store 4862
- Fort Oglethorpe, GA, store 3083
- Calhoun, GA, store 9625
- Iowa City, IA, store 4315
- Marshalltown, IA, store 7583
- Mishawaka, IN, store 4152
- Newburyport, MA, store 9147
- Elkton, MD, store 9524
- Traverse City, MI, store 3009
- West Branch, MI, store 3864
- Cheboygan, MI, store 9245
- Mantua, NJ, store 3060
- Manahawkin, NJ, store 3641
- Las Cruces, NM, store 3682
- Alamogordo, NM, store 9119
- Las Vegas, NV, store 3680
- Henderson, NV, store 3857
- Sparks, NV, store 4151
- Liverpool, NY, store 3352
- Malone, NY, store 3943
- Cortland, NY, store 7134
- Watertown, NY, store 7432
- Wooster, OH, store 4875
- Streetsboro, OH, store 9676
- Tulsa, OK, store 4473
- Roseburg, OR, store 7580
- Butler, PA, store 4771
- Belle Vernon, PA, store 7120
- Indiana, PA, store 7217
- Summerville, SC, store 3606
- Seneca, SC, store 9320
- Madison, TN, store 4093
- Johnson City, TN, store 7353
- El Paso, TX, store 3491
- El Paso, TX, store 7347
- Spanish Fork, UT, store 7425
- Virginia Beach, VA, store 3560
- Virginia Beach, VA, store 3801
- West Allis, WI, store 3618
- La Crosse, WI, store 4089
- Medford, WI, store 7656
- Lewisburg, WV, store 7582
- Sheridan, WY, store 9074
Sears Auto Center
- Elyria, OH, store 6060
- Midwest City, OK, store 6509
- Columbia, SC, store 6013
- Texarkana, TX, store 6739
- Sherman, TX, store 6929
- St. George, UT, store 2653
- Richmond, VA, store 7505
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