Sears Holdings, the parent company of retail stores Kmart and Sears announced plans to close down 78 stores before the year ends.
Ailing retail chain stated that they will reveal which stores it is shutting down in its next Q4 earnings reports this year.
Business Insider reported that at least 30 Sears department stores, 31 Sears Auto Centers and at least 46 Kmart stores will close before the end of January.
"As we have previously communicated, adjusting our physical footprint to focus on our best performing locations is a core component of our transformation," a spokesperson told Business Insider.
After cutting nearly 100 stores in the first half of 2014 (75 Kmart stores and 21 Sears stores), the company had dramatically dwindled down to nearly 800 Sears stores and 1,100 Kmart stores in the United States as of August.
Aside from cutting down stores, the company is said to lay-off 5,500 workers as well.
In an email to USA Today, said the store count and closures "isn't accurate,'' but did not provide store closures or layoff numbers.
"As we stated in our (second quarter earnings report), we disclosed that we would be closing unprofitable stores as leases expire and in some cases will accelerate closings when it is economically prudent. And that we would consider closing additional stores during the remainder of the year,'' Sears spokesman Howard Riefs said in an email to USA Today.
"Make no mistake, we believe the store will continue to play an integral role in our transformation, however, if a store is not generating a profit, it is straightforward that the store should be considered for closure,"Riefs added.
"We will update our store count in our (third-quarter) financial results announcement later this year. All of these closing stores have been previously notified, and their associates and teams advised."
