Sears Holdings will close 18 Sears department stores and 2 Kmart locations this summer, Fortune magazine reported Friday. That brings the total store closures this year to 260.
In a statement, the company said it expects to complete the round of closures by mid-September, Fortune reported.
This is just the latest bad news for a troubled company in the troubled department-store sector of the retail industry. The company reported a nearly 12 percent drop in first-quarter sales this year and has pared down 400 corporate-level jobs in recent months, Fortune noted.
While none of the locations set to close are in located the D.C. metro area, two are in Maryland, Business Insider said: one in the Baltimore suburb of Cockeysville and the other in Hagerstown in the western part of the state.
Sears stock has been trading flat Friday, hovering around its open of $6.82 per share.
• Ken Shepherd can be reached at kshepherd@washingtontimes.com.
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