Sears closing Tacoma Mall store, scores of others as sales plunge

Surrendering Stores       Sears and Kmart stores now number less than 1,000              Source Company filings Bloomberg

At its peak in the 2000s, there were 3,500 Sears stores and 2,171 Kmart locations throughout the country.

The retailer has identified 100 non-profitable stores in total, and it will begin closing sales at 72 of these stores "in the near future".

The Kmart store at 9881 W. 58th Ave.in Arvada was on the list of closures the retailer released Thursday afternoon. Back in January, Sears announced it was closing 100 stores. (Sears initially said Thursday that 72 stores would close, then later revealed that some of the planned closures were being reevaluated).

See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close.

Sears said Thursday that it was closing another 63 stores, on top of the more than 160 locations the company has already shuttered this year. Revenue, meanwhile, dropped more than 30 percent to $2.89 billion.

Over the past year, the company has shuttered almost 400 stores, not including the 72 now facing closure.

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Sears, founded in 1893 as a mail-order business, has faced a number of hurdles in recent years as consumers increasingly shop online.

And the retailer says it will continue to evaluate its network of stores, and will make further adjustments as needed and as warranted.

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. "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". Davenport's Kmart closed a few years ago.

In April, Lampert proposed that ESL Investments purchase Sears' Kenmore brand, its home-improvement business, its Parts Direct division, and some of the company's real estate.

Shares are down more than 3 percent before the opening bell.

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