Topeka Sears closing in September

Topeka Sears closing in September

Sears said it has identified 100 unprofitable stores, and 72 of them will begin store-closing sales in the near future.

Sears added it plans to provide a list later in the day of the locations set to close next.

See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close. Davenport's Kmart closed a few years ago.

There are three other Sears department stores in the region at Oviedo Mall, Altamonte Mall and Florida Mall.

Sears Holdings Corp reported a near 12 percent fall in quarterly comparable-store sales on Thursday and said it will close 72 more underperforming stores in an effort to stem growing losses. "By diminishing the quality of the in-store experience, Sears has basically trained consumers to avoid going inside".

The closures are believed to represent about 8% of the company's remaining stores.

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The company previously announced closures for dozens of KMart stores across the country.

Shares of Sears tumbled another 3 percent on the results in premarket trading. Sears' troubles include an aging business model and increased competition from dollar stores, home improvement chains, and, of course, Amazon.

The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share.

In a statement, CEO Edward S. Lampert described the quarter as "challenging". It sold Craftsman to Stanley Black & Decker in in January 2017 for $775 million.

The retailer, which is now headquartered in Hoffman Estates, IL, has fallen on hard times, and continues to shed stores, employees and brands.

"This company is on life support", said Sucharita Kodali, a retail analyst for research firm Forrester.

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