Sears to shutter more stores

Sears to shutter more stores

Three Sears and three Kmart stores in IL will close this spring in Sears Holdings Corp.'s latest round of cuts.

Rapid City's Sears store in Rushmore Mall will close this year, according to the Sears corporate office. The retailer told employees in a note posted to its web site it was closing 64 Kmart locations and 39 Sears stores.

The announced closures reduce the total number of Sears stores in the United States to about 641 from 3,500 locations in 2010.

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Earlier Thursday, Macy's Inc. announced it was closing 11 stores early this year.

Its list includes three Sears sites in Washington, including its store at The Commons at Federal Way, 1701 S Commons Street. "Urbandale is a fairly large store on Hickman Road, and it will be closing in April".

A spokesperson for Sears Holdings declined to say how many employees will be affected by the closings.

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Sears shares were down 4% on Thursday and are about 75% off 52-week highs. The St. Clair Shores store listed 127 associates when it announced the layoffs. In recent years, Kmarts have closed in Claymont, Dover and Elkton, MD.

"Kmart's business model has not probably adapted to fulfill the opportunities that lay underneath its umbrella", said the mayor.

The move comes in addition to closing about 250 stores announced previous year. That store's last official day is January 14.

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