HOFFMAN ESTATES, IL—Sears Holdings (SHLD)said Thursday it would shutter an additional 103 stores in early 2018, two months after announcing that it would close 45 Kmart and 18 Sears locations by January of this year. On a smaller scale in terms of store count, Macy's Inc. also announced more closings Thursday, revealing plans to shutter 11 locations as it works through a previously announced plan to exit 100 stores.

In a statement, SHLD said it's continuing its strategic assessment of “the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size. In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences” of shoppers. The 103 closures announced Thursday are expected to be completed by April.

Over the past decade, the beleaguered 125-year-old retailer, once the world's largest, has reduced its store count by nearly two-thirds to approximately 1,250 at midyear 2017. It has not turned a profit since 2010, although in its most recently earnings report this past November SHLD said it had narrowed its quarterly losses.

In a posting on the Seeking Alpha website Friday, blogger Matt Levinson wondered how long the company would hang on. “It has become a question of when, not if, Sears will file for bankruptcy,” Levinson wrote. “And while Sears seems to have enough assets to stay afloat at least for this year, it would not be shocking to see the company file for bankruptcy as soon as next year.”

When the 11 closures announced Thursday are finalized, Macy's will have completed 81 of the approximately 100 planned store closures announced in August 2016. The Cincinnati-based retailer said it intends to close approximately 19 additional stores as leases or operating covenants expire or sale transactions are completed.

“These closures are part of a multi-year effort by the company to ensure the optimal mix of brick & mortar stores and digital footprint,” the company said in a statement. Including the stores announced Thursday, Macy's has closed 124 locations since 2015.

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Sears, Macy's Announce More Closings

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