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Kmart at Laurel Mall to close

Kmart at Laurel Mall to close

Four south Louisiana stores were shuttered during the year: Sears locations in Baton Rouge's Cortana Mall and Gretna's Oakwood Mall, and Kmarts in New Orleans and Gonzales.

Sears Holdings officials told its Thursday they plan to close an additional 103 stores, CNBC reports.

This is the latest round of closures for the company that has struggled against online shopping's surge and that retail analysts say is part of the overall deterioration of the traditional department store.

Liquidation sales will start as early as January 12.

"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base", the company said in a statement.

Doors will close at the Prices Corner Sears store and auto center by "early April", according to a press release. After the planned closures this year, Sears will operate about 1,000 Sears and Kmart locations. Store counts are down from 3,510 six years ago to less than 940.

Sears had already been planning to downsize in Orland Park, where it's been an anchor store since the mall opened in 1976. The stock closed Friday at $3.48, down 2.79 percent.

The closures in Springfield and Portland will leave four Sears in OR, with the closest to Lane County in Salem. Sears Holdings said the number of employees impacted was not available, stating a majority of the jobs are part-time positions. At the time, Sears was expected to remain open in the renovated store's lower level.

In 2016, the company reported an operating loss of $2.2 billion.


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