Sears Holdings Closing Three Area Stores

Closings to take place in September

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PITTSBURGH (Newsradio 1020 KDKA) - Update: Sears Holdings is closing three stores in the Pittsburgh area. Two Sears locations will be shuttered in early September at South Hills Village and the Mall at Robinson. The Sears Auto Center at South Hills Village will be closed in late June. Kmart at Mountain Laurel Plaza in Latrobe is also being closed.

In all, 72 stores were selected from a list of 100 money-losing locations nationwide. 

The company announced a new round of downsizing yesterday morning after reporting a first quarter loss of $424 million. Revenue was down more than 30 percent in the first quarter with store closings already underway contributing to most of the drop.

Jeff Inman with the Katz School of Business tells the KDKA Radio Morning News one reason for the red ink is: shoppers are buying more online. "What that's done is expose the weakest retailers. Those that haven't been able to develop an online, e-commerce presence have been the ones we've seen fall by the wayside."  

Inman also says Sears Holdings may soon join the ranks of Circuit city and Toys R Us. "Sears has been limping along for a while here and we may be seeing them go out of business in the not too distant future."

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