The struggling retailer said Thursday that it has identified about 100 stores that are no longer turning profits, and 72 of those locations will be shuttered soon. They say a list of the 72 stores will be posted later in the day.
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Sears Holdings Corp., based in Hoffman Estates, Illinois, lost $424 million, or $3.93 per share, in its first quarter.
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 under way contributing to almost two thirds of the decline.
Shares are down more than 3 percent before the opening bell.
Check 6abc.com later for a list of the 72 stores that will be closing.
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