28 More Kmart Stores Are Closing

(New York, NY) -- Sears is going to close over two-dozen more Kmart stores as its earnings and sales continue to fall. 

The retailer reported this morning that second-quarter earnings fell a dollar and 16 cents a share, which is less than half the loss analysts had forecast. Same-store sales were off eleven and-a-half percent. That's worse than an expected seven-point-one percent decline.

Sears also announced it will close 28 more Kmart stores this year.  The list of locations hasn't yet been released.  The company already has closed or is closing hundreds of Sears and Kmart stores this year.

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Photo:  flickr, Mike Kalasnik

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