Struggling department store chain Sears closing more stores

In this Saturday, March 25, 2017, photo, shoppers enter the Sears department store in Schaumburg, Ill. On Friday, April 14, 2017, the Commerce Department releases U.S. retail sales data for March. (AP Photo/Nam Y. Huh)

NEW YORK (AP) – Struggling department store chain Sears says it’s closing even more stores as it tries to turn around its business.

Sears Holdings Corp. CEO Eddie Lampert said in a blog post Friday that the company would close another eight Sears and 35 Kmart stores that are unprofitable by early October. Hundreds of store closings have already been announced this year.

Sears had said in March that there was “substantial doubt” it could continue after years of bleeding money, though it has insisted that its actions to turn around its business should help reduce that risk. With more people shopping online, mall foot traffic has dropped.

Lampert noted Friday that Sears has opened smaller stores to attract customers and is on track to cut $1.25 billion in yearly costs.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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