Sears is closing another 72 stores after reporting first-quarter losses and plunging sales.
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.
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%Â to $2.89 billion, with store closings already under way contributing to almost two thirds of the decline.
Shares are down more than 3%Â before the opening bell.
Sears previously announced that the store inside Meadowood Mall would close in mid-summer.Â
In a statement, Sears Holdings told us, "We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors."
The Carson City location and the Sears Outlet on Glendale Avenue remain open for business.Â
(The Associated Press contributed to this report.)
