STRONGSVILLE- The Sears at the Southpark Center in Strongsville is among the 72 additional stores to close.
Earlier today it was announced that Sears will close the additional stores as sales shrink and losses grow, an announcement that has become a familiar refrain as the company retrenches.
Last year, two locations in Northeast Ohio closed: the stores in Mentor and Middleburg Heights.
The beleaguered retailer, which operates Kmart and Sears stores, said it has identified about 100 stores that are no longer turning a profit, and the majority of those locations will be shuttered soon.
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.
Rob Riecker, Sears' chief financial officer, said in a pre-recorded call that the company's stores are "a critical component in our transformation."
But to meet customer needs and improve financial results, Sears must close poorly performing stores and "focus on our best stores, including our newer smaller-store formats," he said, according to a transcript of the call.