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plans to close 46 more Kmart and Sears locations, further downsizing its bricks-and-mortar imprint nationwide.
Sears said the stores it is closing, which include locations in California, West Virginia and New York, are unprofitable.
The company said in a statement this week that it told employees at those locations that the stores will be closed in November. Sears said liquidation sales at closing stores will start next week at the earliest.
As of May 5, the company had 894 Sears and Kmart locations.
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” Sears said.
Shares fell 3.4% Thursday morning.
Sears, an American retail staple since 1886, has been struggling in recent years, closing stores, selling off assets and borrowing money. But it wasn’t always this way. Gordon Weil, author of “Sears, Roebuck, USA,” looks back on the history of the retailer. Photo: Getty
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