Pasadena’s Sears Store Dodges The Bullet Again as Company Shutters 72 Other Locations

Published : Thursday, May 31, 2018 | 9:44 AM

Sears, located at 3801 E Foothill Blvd. in Pasadena, has been spared from the chopping block once again as the beleaguered retailer announced the closure of another 72 Sears and Kmart stores on Thursday, May 31, as sales plunge and losses continue to grow.

The one-time powerhouse retailer, which opened in 1893, has been trimming down locations and brands as it burns through money.

In 2017, eight Sears and 35 Kmart locations closed. A year earlier, 240 stores were shuttered.

Sears and Kmart operated 894 stores at the end of the first quarter, which is 381 fewer than it did a year ago.

The retailer said it continues to evaluate its store fleet and will make further adjustments “as needed and as warranted.”

Sears says that the stores named are no longer turning a profit and it has lost about $424 million in its last quarter. Shares of Sears Holdings Corp. fell more than 4 percent before the opening bell Thursday.

While the store in Pasadena hangs on, two stores in California—in the City of Industry and Ridgecrest locations—have met their fate.

 

 

 

 

 

blog comments powered by Disqus