Four Kmart stores closing in California; closest is in Hesperia

Sears to shutter another 28 locations, as same-store sales tumble 11.5%

The department store chain also announced on Thursday that it will be closing an additional 28 Kmart stores this year.

All 28 of the stores, except one in Florida, will close in mid-November, with liquidation sales coming as early as the end of this month, the Hoffman Estates, Ill., retailer said in a statement.

IL has 17 Kmart stores, including the one at 7230 Westfield Plaza in Belleville and one in Springfield. Kmart stores will remain in Springfield and the following Missouri locations: Florissant, St. Louis and Crystal City.

Revenue fell 23 percent to $4.37 billion in the period.

Comparable store sales at Sears and Kmart declined 11.5% during Q2, much worse than the expected 7.1% decline. Kmart comparable store sales decreased 9.4 percent, while Sears comparable store sales declined 13.2 percent.

The retailer said that so far in fiscal year 2017, it has closed about 180 stores previously announced for closure.

The one analyst surveyed by Thomson Reuters that covers the stock had forecasted an adjusted loss per share of $2.48. "The comprehensive restructuring of our operations is delivering cost efficiencies and helping drive improvements to our operating performance". The company lost $251 million for the quarter.

The company said at the time that it expects the agreement to "significantly expand the reach of the Kenmore brand".

Sears has stores in Danbury, Milford and Waterbury as well as a hardware store in Shelton.

"We are making progress on the strategic priorities we outlined earlier this year and remain focused on returning our company to profitability", Edward S. Lampert, chairman and chief executive officer, said in the second-quarter news release.

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