Sears releases the list of the 72 stores it is closing

Sears said it was closing its Crabtree Valley Mall store in Raleigh this November.
Sears said it was closing its Crabtree Valley Mall store in Raleigh this November. Google Street View

Sears, which has seven stores in the Triangle, announced Thursday that it would close another 72 stores as it continues to struggle with plunging sales.

The Illinois-based retailer had previously announced that 166 stores would close this year. The department store chain was once the largest in the country.

No North Carolina stores were named among the group of closures this time, according to a list the company released Thursday afternoon.

But the company has closed some North Carolina stores already. Earlier this year, the company shuttered locations in Wilmington and Asheville as well as five other stores in the state.

The company's announcement came as it revealed more losses in its first-quarter earnings report. The retailer showed a $424 million loss, or $3.393 a share. Revenue fell more than 30 percent to $2.89 billion. Much of that decline was due to previous store closings. In a statement, the company announced it had identified 100 nonprofitable stores and that 72 would close soon.

Sears is also exploring the sale of its Kenmore brand. It has already sold its Craftsman tool line.

In the Triangle, Sears stores and automotive centers anchor Crabtree Valley Mall and Triangle Town Center in Raleigh and the Streets of Southpoint and Northgate Mall in Durham. It also has showrooms in Apex and Knightdale and an outlet store in Garner.

Earlier this year, Sears sold its Crabtree Valley Mall property back to the mall for nearly $20 million but signed a leaseback agreement.

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