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Sears Hometown and Outlet Stores Inc. will close up to 100 of its 882 stores, the company announced in its first-quarter 2018 financial results.
Sears Hometown and Outlet Stores is a Sears spinoff company that mainly sells appliances, hardware, tools and lawn and garden equipment. Most locations “are run by independent dealers and franchisees,” The Wall Street Journal reports.
The majority of store closings will occur in the second quarter, before “the expiration of leases or dealer agreements,” the article states.
The company closed approximately 20 stores in the first quarter. The company also reported a $9.4 million first-quarter loss, according to the Journal.
In March, Sears Hometown began advertising in print and digital platforms and began airing its first nationally televised ads, highlighting the fact that its stores are owned and run by independent retailers, the Journal reports.
Earlier this month, Sears Hometown and Outlet Stores’ parent company, Sears Holdings Corp., announced it would close 63 stores by September. In April, Sears, which is based in Hoffman Estates, Illinois, announced it would close its final retail location in Chicago.
As of May, Sears Hometown and Outlet Stores operated a total of 882 stores in every U.S. state, including Puerto Rico and Bermuda.
