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Neb. Sears stores not on closure list

Neb. Sears stores not on closure list

New York — Sears will close dozens more stores as sales shrink and losses grow, but none of the company’s stores in Nebraska were among those slated for closing. The retailer said it has identified about 100 stores that are no longer turning a profit and the majority of those locations will be shuttered soon.

Sears released a list of 63 stores that it said will close in September. It said earlier on Thursday there would be 72 closed, but said some were being re-evaluated.

Sears has stores in Kearney, Grand Island, McCook & North Platte.

Sears lost $424 million, or $3.93 per share for the period that ended May 5. It earned $245 million, or $2.29 per share, a year earlier, a quarter that included a $492 million gain tied to the sale of the Craftsman brand.

Revenue tumbled more than 30 percent to $2.89 billion, with store closings already underway contributing to almost two-thirds of the decline.

Sales at established stores, a key gauge of a retailer’s health, tumbled nearly 12 percent, down 9.5 percent at Kmart stores and 13.4 percent at Sears.

After this round of closures, the company will have about 800 stores, down from about 1,000 at the end of last year and far below the 2012 peak of 4,000 stores.

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