'Non-profitable' central Illinois Sears to close

'Non-profitable' central Illinois Sears to close

But to meet customer needs and improve financial results, Sears must close poorly performing stores and "focus on our best stores, including our newer smaller-store formats", he said.

Sears Holdings announced it would close 72 stores Thursday morning, May 31 but reduced that number to 63 closures after deciding to evaluate nine locations before making a decision. One analyst earlier this year described the company as dealing with a "toxic mix of issues", including unattractive stores, dramatically falling sales and high debt levels.

A Kmart store at 9881 W. 58th Ave.in Arvada was on the list of closures the retailer released Thursday afternoon. Only 12 Sears department stores will remain in MI after the closures, not counting dozens of franchised Sears Hometown stores.

The Sears department store at Seminole Towne Center mall in Sanford will close along with 62 other Sears and Kmart stores across the country.

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Sears Holdings will close another 100 unprofitable stores after another quarter of losses and slowing sales. There are several hometown locations that will remain open, including in Dubuque. No other Washington state store was on the list.

After this round of closures, the company will have about 800 stores, down from about 1,000 at the end of previous year and far below the 2012 peak of 4,000. The company had 894 stores as of May 5, down from 1,980 stores in 2013.

"We will be working with them closely as the plans are finalized by Sears Holding as to the future of the building". At this time, the Sears at the CherryVale Mall is not on the closing list. The Davenport and Rock Island Kmart locations both closed in the past few years.

Merchandise sales fell 34 percent last quarter to $2.2 billion, according to the report.

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