
NEW YORK (AP) — Sears continued to struggle in its second quarter with declining sales amid heightened competition from the likes of Walmart to Amazon. It now says it will close even more stores.
The Hoffman Estates, Illinois retailer, which operates Sears and Kmart stores, has been trying to cut costs by closing stores, including 180 this year and already had plans to cut another 150 stores. It now plans to shutter an additional 28 Kmart stores.
Sears Holding said in a statement: “The retail environment remained challenging.”
The company reported Thursday that its second-quarter loss narrowed to $251 million, or $2.34 per share. Losses, adjusted for one-time gains and costs, came to $1.16 per share.