Sears to close Kmart on E. State Street in Rockford

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The company initially said it planned to close 72 stores in an earlier statement on Thursday, but said it is now further evaluating some of those closures. The full Sears closing list, which we have included below in this updated story, now consists of 63 stores (15 Kmarts and 48 Sears locations). The Kmart in Rockford also will close, as will the Sears in Springfield.

Hoffman Estates, Ill. -based Sears Holdings said Thursday it's identified 63 Sears and Kmart stores that are no longer profitable that will close, including the two local Sears.

The Sears in Davenport and the K-Mart in Des Moines are among 72 stores the Sears Holdings company plans to close in early September.

The company's announcement came as it revealed more losses in its first-quarter earnings report. Other chains like Walmart, Best Buy and even other department stores like Macy's have posted rosier results.

The Sears store inside the Honey Creek Mall will remain open.

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Kmart joins Toys R Us Bed Bath and Beyond on the list of major retailers that have closed its doors in Laredo.

For the period that ended May 5, Sears lost $3.93 per share. Sears CEO Eddie Lampert has been criticized as being distant, neglecting stores and customer service, and not innovating enough to keep the company evolving with the times. It reported a net loss of $424 million, with revenue dropping more than 30 percent to $2.9 billion and same store sales down by 13 percent. Previous year his hedge fund, ESL Investments, doled out $1 billion in financial support to the ailing retailer.

Sears has tried to sell those brands and businesses before.

The sale of Kenmore would be part of a broader effort by Sears to sell off its successful brands.

It reported a net loss of $424 million, compared to a profit of $245 million the same time a year ago.