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Clifton Kmart Named In Sears' New Round Of Closures

Kmart in Clifton will shutter in Sears Holding Corps' new round of closures.
Kmart in Clifton will shutter in Sears Holding Corps' new round of closures. Photo Credit: Google Maps

Sears Holdings Corp., which owns Sears and Kmart, has announced the exact locations in a round of store closures as sales continue to decline.

The company said in an earnings statement Thursday it plans to close 63 of about 100 nonprofitable stores.

New Jersey will be losing stores in Burlington, Lawrenceville and Ocean, along with a Kmart in Passaic.

Sears Holdings initially announced plans to close 72 stores, but later in the day adjusted that number to 63 stores: 48 Sears stores and 15 Kmart stores. Nine additional stores that it initially planned to announce would close will be evaluated further.

There are 529 Sears stores and 365 Kmart stores in the U.S.

The list of the Sears and Kmart stores slated for closure can be accessed here.

"We continue to evaluate our network of stores, which are a critical component in our transformation, and will make further adjustments as needed and as warranted," the company said.

Sears Holdings reported a first-quarter loss of $424 million, or $3.93 per share, on $2.9 billion in revenue the quarter, compared to revenue of $4.2 billion in the same period last year.

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