Sears to close 72 stores, possibly more, after reporting $424 mi - CBS46 News

Sears to close 72 stores, possibly more, after reporting $424 million first-quarter loss

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ATLANTA (CBS46/AP) -

Sears to close 72 stores, possibly more, after reporting $424 million first-quarter loss.

USA Today reports that the company plans to reveal the list of store closures on Thursday.

Sears Holdings, which operates Sears and Kmart locations, has been downsizing for years as it tries to turnaround the company.

Business Insider says Sears is closing more stores as the company's sales continue to slide, with revenues falling more than 30% to $2.9 billion in the most recent quarter, compared to $4.2 billion in the prior quarter.

No word on when the store closings will begin.

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