Sears Closed 235 Stores This Year

Sears closed 235 stores this year, mostly with the Kmart nameplate, the company announced on Dec. 4.

The announcement shows that store closings are accelerating for the company, which in August announced it had closed 130 stores over the year. It still has 1,830 Sears and Kmarts.

The bad news comes as red ink continues to pile up for the troubled company. In the third quarter of 2014, it posted a $548 million loss, more or less equal to the $534 million loss it posted the prior year. 

Sears’ U.S. comps fell 0.7 percent, and Kmart’s comps decreased 0.5 percent. Online and multichannel sales—a growing focus for the company—rose 9 percent. 

The company had disputed past reports of store closings. 

JCK News Director