National Post (Latest Edition)

SEARS TO CLOSE 72 MORE U.S. STORES AS SALES PLUNGE

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Sears will close another 72 stores as sales shrink and losses grow. The beleaguere­d retailer, which operates Kmart and Sears stores, said it has identified about 100 stores that are no longer turning a profit, and the majority of those locations will be shuttered soon. After this round of closures, the company will have about 800 stores, far below the 2012 peak of 4,000 stores. Sears also posted a quarterly loss of $424 million and said closings contribute­d to a drop of more than 30 per cent in revenue.

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