Area stores not affected as Sears announces closings

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To stem losses, Sears has closed almost 400 stores since a year ago, leaving 894 stores still open as of May 5.

Sears Holdings will close another 100 unprofitable stores after another quarter of losses and slowing sales.

The company said closing sales for the 63 stores would begin in June, and the stores would close by September.

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

The employees of 15 Kmart stores and 48 Sears stores have been notified.

The company said it will close 72 stores as a part of its "ongoing efforts to streamline the company's operations".

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The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share. Revenue, meanwhile, dropped more than 30 percent to $2.89 billion.

Company officials says the stores slated to close were identified as non-profitable.

"The demise of Sears has felt like a prolonged drip, drip, drip", said Mark Hamrick, an analyst for Bankrate.com.

Sears Holdings closed its Kmart location at 180 Main St.in Saugus on earlier this month.

In its latest quarterly earnings report, Sears said that comparable store sales fell 9.5% at Kmart and a whopping 13.4% at Sears locations. "Essentially, it has been injury by a thousand cuts, whether by failing to staff stores to provide customers with good experiences or by failing to stock better quality merchandise in its stores".

Executives said Thursday they were also looking into selling the retailer's Kenmore brand of appliances - one of the few bright spots in the company's performance - to Lampert's hedge fund. Lampert, the company's largest shareholder, has also become one of its biggest lenders. On Thursday, its shares plunged by more than 12 percent to $2.81.

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