Sears' latest closings include Fox Valley store

01 June, 2018, 16:32 | Author: Pamela Mathis
  • Sales fell 30 percent at Sears during the most recent quarter leading to a $424 million loss

Sears, the struggling department store chain, said Thursday, May 31, it would close another 72 Sears and Kmart stores as sales plummeted, continuing the decline of what was once the country's largest retailer.

City officials have said the company building the new fitness center, Life Time Inc., wants to dismantle the Sears building by year's end and begin construction next spring.

The store at the Puente Hills Mall in the City of Industry is among the locations being closed.

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.

When the company posted a list on its corporate website of Sears and Kmart stores that will be closing, it did not include the Oakwood Mall anchor store or any of the company's other locations in Wisconsin.




The Sears store in Dewitt, near Syracuse, is on the list to close in late July. The company has lost more than $11.2 billion since 2010, its last profitable year.

The latest closings underscore the deep-rooted problems at Sears, which was once a one-time powerhouse retailer that survived two world wars and the Great Depression but has been calving off pieces of itself as it burns through money. That marks more than five straight years of declining quarterly sales, according to FactSet. "Essentially, it has been injury by a thousand cuts, whether by failing to staff stores to provide customers with good experiences or by failing to stock better quality merchandise in its stores".

Sears said sales dropped 30 percent in the most recent quarter, leading to a loss of $424 million.

Sears is looking to sell its Kenmore appliance brand in an effort to raise cash, after selling off its Craftsman tool brand a year ago.

Recommended:

  • France offers citizenship to Malian immigrant who scaled building to save child

    France offers citizenship to Malian immigrant who scaled building to save child

    Walking on the street, he saw a crowd gathered below a building, screaming and gesturing upward on the rue Marx-Dormoy. Gassama told Hidalgo by phone on Sunday that he arrived from Mali a few months ago and wished to stay in France.
    Yankees fans booed the hell out of Rudy Giuliani on his birthday

    Yankees fans booed the hell out of Rudy Giuliani on his birthday

    The rough treatment is likely related to Rudy Giuliani's new role as the attack dog for Donald Trump . Giuliani served as mayor from January 1994 to December 2001.
    Joshua Holt Freed, Expected to Arrive In D.C.

    Joshua Holt Freed, Expected to Arrive In D.C.

    Venezuelan officials released the Holts after high-level talks between President Nicolas Maduro and USA lawmakers. There the couple and their daughter, Marian Leal, reunited with his family in a tearful meeting at the airport.
  • Kevin Durant Says Warriors Knew James Harden Would 'Wear Down'

    Durrant in particular impressed, scoring 34 points and contributing 5 rebounds and 5 assists for his team. Young teams like the Philadelphia 76ers, led by Joel Embiid and Ben Simmons, began to emerge.
    What Is Pokemon Quest?

    What Is Pokemon Quest?

    As of now, only the original 150 Pokemon will be available in Pokemon Let's Go , suggesting that more could be added via DLC. The games are spiritual successors to Pokemon Yellow, the Game Boy title from 1998, with a dash of Pokemon Go thrown in.
    Gary Gardner must leave Aston Villa this summer

    Gary Gardner must leave Aston Villa this summer

    Slaviša Jokanović's side was reduced to 10 men in the 70th minute, after defender Denis Odoi picked up his second yellow card. However, subsequent replays showed that there was far more to the incident than first met the eye.
  • USA trade tensions at fever pitch as steel deadline looms

    But Macron said those "who waged bilateral trade wars. saw an increase in prices and an increase in unemployment". The measures will be in place until the USA government eliminates its tariffs, the ministry said .
    Body found of National Guardsman swept away by flood waters

    Body found of National Guardsman swept away by flood waters

    Hogan said temporary improvements were in place and more things were in the works to reduce the community's vulnerabilities. This flood followed another disaster, that occurred just two years ago, forcing people to restore a big part of the town.
    Svitolina erases early deficit at French Open

    Svitolina erases early deficit at French Open

    Argentinian Marco Trungelliti had embarked on a nine-hour drive from Barcelona to Paris on Sunday - and it proved well worth it. It's a poor return for a player of such pedigree, but expect all of that to change very soon, starting at Roland Garros.
  • China slams US for 'sudden flip-flops' in trade policy

    China slams US for 'sudden flip-flops' in trade policy

    The proposed investment restrictions will be published by June 30 and take effect at a later date. Economists estimate that U.S. exports could rise by up to $90 billion over a period of years.

    Rafael Nadal and Maria Sharapova win in French Open

    In the second set, the Chinese won just 10 points, and six came thanks to her opponent's unforced errors. The return game that produced three consecutive breaks of serve.
    Gulf Coast prepares for Alberto as heavy rain, gusty winds hit Florida

    Gulf Coast prepares for Alberto as heavy rain, gusty winds hit Florida

    Alberto has been a subtropical storm since its formation because it lacked the warm core that forms the core of tropical storms. A tropical storm warning remained in effect stretching from Florida's Suwannee River to the border of Alabama and Mississippi.


Popular

Canada to impose tariffs on USA , challenge at WTO
Trump's announcement lifted American steel and aluminum stocks because those companies stand to benefit from penalties against their foreign competitors.

Kim Kardashian to Meet Trump at White House on Wednesday
Kardashian and husband Kanye West , an outspoken Trump fan , have worked hard to advocate for Johnson's release . Kushner has spearheaded a White House initiative to help better prepare prisoners for life after incarceration.

Viral video shows police officer repeatedly punching woman on New Jersey beach
After the camera is turned back on, Weinman is heard screaming as officers try to handcuff. Weinman said in a Facebook post she was approached for underage drinking.

Stunner! Defending French Open champ Ostapenko out on Day 1
US Open champion Sloane Stephens was clearly in a hurry, dropping just two games in a 6-2 6-0 win over Arantxa Rus of Holland. Instead, the in-form Alexander Zverev, who is seeded second, will be the highest seed in action in the men's singles draw.

Washington continues to "actively prepare" for summit: Sanders
Initially, Hecker said the United States should push for North Korea to dismantle the more unsafe aspects of its nuclear program. The US has linked him to the hacking of Sony Pictures' computer networks in 2014 and has him on its list of sanctioned entities.

Bethesda Discreetly Hints At New Fallout Announcement
Possible news of for a new " Fallout " comes nearly three years after the announcement of " Fallout 4 " at E3 2015. The Showcase can be streamed online via Twitch, YouTube, Twitter , Facebook and the official Bethesda website.

Apple releases iOS 11.4 with Messages in iCloud
It also means that all of your iMessages will automatically show up on any new Apple device that supports the messaging service. Tap there, and the iOS 11 .4 update should be waiting for you to download just by following the onscreen prompts.

The Champions League curse that Spain fear in Russian Federation
Liverpool went on to lose the game 3-1 without their star winger and Salah's World Cup hopes now seem in doubt. He left with his arm in a sling, his Liverpool team defeated and his World Cup in jeopardy.

Warriors coach Steve Kerr calls National Football League anthem policy 'idiotic'
But under the new rules adopted by the league's 32 owners, players will be allowed to stay in the locker room during the anthem. He continued, "You have to stand proudly for the national anthem or you shouldn't be playing".

LeBron takes charge once more, tows Cavs to Finals
Before picking either side in the 2018 NBA Playoffs, you need to read what SportsLine senior analyst Larry Hartstein has to say. With the rookie Tatum and second-year Jaylen Brown, Boston established itself as the team of the future in the East.