The company that operates the struggling Sears and Kmart retail chains plans to close another 28 Kmart stores later this year as it continues to trim its real estate portfolio and cut costs.
Sears Holdings today announced that comparable store sales for Sears and Kmart stores fell 11.5 percent during the second quarter, forcing additional steps to reduce inventory and operating expenses.
None of the 28 Kmart stores closing are in Central Pennsylvania. But there are two stores in Pennsylvania — one in Willow Grove and one in Allentown — that will be shuttered.
With the exception of one store in Florida, the latest round of Kmarts are expected to close in mid-November.
The move is in addition to the 180 Sears and Kmart stores that the company has already closed this year, and the 150 stores it plans to close by the end of the third quarter.
During the second quarter, Sears Holdings reported total revenue of about $4.4 billion, compared with $5.7 billion in the same quarter a year ago. Store closures contributed to about $770 million of the decline.