Recently announced Sears closings include Connecticut store - WFSB 3 Connecticut

Recently announced Sears closings include Connecticut store

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WATERBURY, CT (WFSB) -

A Connecticut location is among the dozens of new store closures announced by Sears last week.

According to Sears' website, the store at 425 Union St. in Waterbury, which is in the Brass Mills Mall, will close in early September.

Sears announced at least 72 closures nationwide as sales plunged and losses mounted.

It said it identified 100 non-profitable Sears and Kmart stores across the country.

The company closed nearly 400 stores over the past 12 months and currently has a total of 894 remaining, including the 72 slated for closure. The two chains had a total of 3,500 U.S. stores between them when they merged in 2005.

Sears said overall revenue fell 31 percent in the three months ending May 5. While most of that decline was due to previous store closings, sales fell 12 percent at the stores that remained open.

The lower sales resulted in a $424 million loss for Sears Holdings, the holding company that owns by Sears and Kmart. The company has lost more than $11.2 billion since 2010, its last profitable year.

"I think things are for the worse right now. Hopefully, they'll get better, but it is sad, you don't want these stores to close, you want them to maintain a lot of business here because it improves the city, the quality of the city," said Michael Perkins of Waterbury. 

Sears is looking to sell its Kenmore appliance brand in an effort to raise cash, after selling off its Craftsman tool brand a year ago.

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