Sears store in Eau Claire will remain open

Sears store in Eau Claire will remain open

Sears Holdings announced Thursday that it's closing another 72 stores, which includes both Sears and Kmart stores.

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

With respect to the stores identified in this map (listed on Sears' website), closing sales will kick off "in the near future", Sears said.

The announcement of the Peabody store closing was expected after a developer filed plans earlier this month to build a fitness center and outdoor pool near the site of the current Sears.

Sears Holdings on Thursday announced it will close 63 Sears and Kmart stores.

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After the latest closings, there will be about 820 Sears and Kmart stores, down from about 2,000 locations five years ago. Sears attributed two-thirds of the revenue decline to previous store closings. The company has lost more than $11.2 billion since 2010, its last profitable year.

Sales at established stores, a key gauge of a retailer's health, tumbled almost 12 percent, down 9.5 percent at Kmart stores and 13.4 percent at Sears.

Shares of Sears tumbled another 3% on the results in premarket trading.

The one-time powerhouse retailer that survived two world wars and the Great Depression has been calving off pieces of itself as it burns through money.

Lampert, who combined Sears and Kmart in 2005 after helping to bring the latter out of bankruptcy, has long pledged to save the famed retailer, which started in the 1880s as a mail-order catalog business. That's compared to a net income of $245 in the first quarter of '17, which was due in part to the sale of the Craftsman brand.

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