Sears Holdings, the parent company of Sears and Kmart, says it is closing at least 72 more money-losing stores as it continues its cost-cutting campaign.
The announcement was expected after the company revealed it had lost $424 million in the first quarter of this year. The company has identified 100 stores across the country which had stopped turning a profit, and of those, 72 will be shut down. Sears Holdings plans to announce the closures later today and says the stores will be shuttered by the end of November.
There are 8 Sears stores in the DMV...hopefully, none of them will be affected. (USA Today)