The company will shut down 108 Kmart stores and 42 Sears stores by April, according to an internal document obtained by Business Insider.
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Sears is closing 150 stores — here's the full list (SHLD)
Sears announced a second wave of store closures on Wednesday, bringing the total number of closures scheduled for early 2017 to 150.
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That represents about 10% of Sears' store base.
Forty-six closures were announced internally on December 27. Employees learned of the remaining closures on Wednesday.
Sears did not respond to a request for comment on the closures.
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Here's a list of Kmart stores that are closing:
And here's a list of Sears stores that are closing:
This latest round of closures will bring the total number of stores that Sears has closed this fiscal year to more than 200.
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That means the retailer will have fewer than 1,500 stores left by early 2017. That's down nearly 60% from 2011, when Sears had more than 3,500 stores.
Sears is shutting down stores to help stem losses from falling sales.
In the most recent quarter, Sears' revenue fell 13%, to $5 billion, and its losses widened to $748 million from $454 million in the period last year.
Same-store sales dropped 7.4%, including a 10% decrease at Sears stores and a 4.4% decrease at Kmart stores.
If you work at Sears or Kmart and have information to share, contact this reporter at hpeterson@businessinsider.com.
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