Macy's, meanwhile, had also announced its Twin Falls store would close in late March as part of an August 2016 plan to close 100 stores. Since 2011, Sears has lost more than $10.4 billion. Liquidation sales will start as early as next week.
Sears wasn't the only department store to announce closings Thursday.
The Sears located at 5540 Winfield Avenue at Oakridge Mall is closing, and the store at San Rafael's Northgate Mall is closing too.
Joe Willauer, executive director of the Butte Local Development Corporation, said the Kmart announcement is distressing, primarily because of the jobs that will be lost.
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"Sears is on life support with very limited turnaround prospects on the horizon", Ken Perkins, president of Retail Metrics Inc., which tracks the retail industry for investors, said at the time.
"It's definitely the online shopping", she said.
"This closing opens up the door for some redevelopment so we have the opportunity to reinvent this anchor store, and help reinvigorate the Houston Galleria", Hogan said.
So far, 2018 isn't going well for Sears.
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According to the company, employees at the stores were notified Thursday morning that the closures would take place.
"Sears Holdings continues 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", a statement on the company's website says. It's unclear how long of a lease Sears has at the mall.
Most retailers have yet to report full fourth-quarter results, but Macy's said sales at stores open at least a year were up 1 percent in November and December compared with the prior year. "In the process ... we will continue to close some unprofitable stores".
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