(RNN) - Struggling retailer Sears Holdings, which runs Sears and Kmart stores, is closing 72 more locations.
This is in addition to the 180 closures already announced, Business Insider said. Many of the stores will close in September.
"We recognize that we need to accelerate our efforts to improve our operational performance and are moving decisively with our $1.25 billion restructuring program," said Edward S. Lampert, Holdings' Chairman and Chief Executive Officer, in a first quarter report released May 25.
The first quarter, Sears stores reaped revenues of $4.3 billion compared to $5.4 billion for the first quarter in 2016. Lampert blamed the lower revenue on fewer stores and an 11.9 percent decline in comparable store sales.
Comparable store sales for Kmart stores decreased 11.2 percent this quarter as compared to the first quarter of 2016.
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