Sears to Close Northpark Location

When I heard that Sears was announcing the closing of 72 stores sometime today, I had only figured that one of them would be the Davenport location. True to form, my gut instinct was right. Sears just posted the list of the 72 stores they plan to close and the Northpark location was on the list.

How very sad, but not unforeseeable. With online shopping at its peak, the big box stores are starting to feel the pinch.

After this round of closures, the company will have about 800 stores, down from about 1,000 at the end of last year and far below the 2012 peak of 4,000 stores.

Sears also posted a quarterly loss of $424 million and said store closings already underway contributed to a drop of more than 30 percent in revenue. That marks the more than five years of straight quarterly sales drop, according to FactSet.

Read more at: WSAZ