Batavia Kmart safe, but last Rochester-area stores closing

Batavia Kmart safe, but last Rochester-area stores closing

Batavia Kmart safe, but last Rochester-area stores closing

The second quarter adjusted loss was $1.16 per share, narrower than the loss of $2.03 per share in the comparable period a year ago. Excluding one-time charges, the retailer lost $1.16 a share.

Total revenue fell 22 percent to $4.37 billion, mainly due to store closures, which shaved off $770 million of revenue, the company said.

The announcement after Sears made its latest revenue report to stockholders, revealing an 11.7 percent drop in sales on a same-store basis.

So far in fiscal 2017, Sears has shuttered approximately 180 stores (all were previously announced for closure), with an additional 150 stores (also previously announced) expected to go dark by the end of the third quarter.

Sears said that July was the best month for the quarter for the company in terms of comparable sales, "as the restructuring program actions, including the closing of unprofitable stores, have begun to take effect".

The Kmart stores on Route 38 in Moorestown and Route 48 in Parsippany will be closed by mid-November, the company announced Thursday. And Sears doesn't show the same signs that the retailer has stopped or slowed the hemorrhaging of sales, as many of its peers did in their Q2 releases.

The discount retail chain had more than a dozen stores in the area in 2011, according to Post-Dispatch files.

The company said it will continue to "transform" its business model so the number of its physical stores, as well as its online presence, matches shoppers' needs and preferences. Operating loss was $106 million versus an operating loss of $269 million in the year-earlier quarter.

In the Hudson Valley there are Kmart stores in New Windsor, Poughkeepsie, Mahopac, Yorktown Heights and White Plains.

Sears also recently announced plans to sell Kenmore products on Amazon.

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