Sears announced a second wave of store closures yesterday, bringing the total number of closures scheduled for early 2017 to 150.
The company will shut down 108 Kmart stores and 42 Sears stores by April, according to an internal document obtained by Business Insider.
That represents about 10% of Sears’ store base. Sears is shutting down stores to help stem losses from falling sales.
In the most recent quarter, Sears’ revenue fell 13%, to $5 billion, and its losses widened to $748 million from $454 million in the period last year.
To read the full article by Business Insider – including the list of store closings across the country (and which NJ stores are closing – click HERE.