Kmart in Cape Girardeau to close in November

Kmart at 11 S. Kingshighway in Cape Girardeau will close in November, along with 45 other Sears and Kmart stores nationwide, Sears Holdings announced Thursday morning.

According to the company news release, the closures are part of ongoing efforts to streamline operations, strengthen the company's capital position and focus on the best stores.

"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the release stated.

The store locator function on Sears and Kmart websites will allow customers to find nearest locations of those stores that are open, the release stated.

Liquidation sales will begin as early as Aug. 30 at closing stores.

Company spokesperson Howard Riefs said the number of associates affected was not available Thursday morning.

A Kmart associate directed inquiries to Sears Holdings media relations.

On May 31, Sears Holdings had announced closure of 15 Kmart and 48 Sears stores, but Cape Girardeau's were not among them, according to earlier reporting by the Southeast Missourian.

Also on May 31, the company released its first quarter 2018 results, reporting a net loss of $424 million, or $3.93 loss per diluted share.

First quarter 2017, by contrast, saw a net income of $245 million, which included a $492 million gain from the sale of the Craftsman brand, the release had stated.

mniederkorn@semissourian.com

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