Did Natick Sears Survive The Latest Cut?

NATICK, MA—Another established retail chain is making some painful trimmings. Legendary department store Sears is once again downsizing and on Thursday announced the closing of 72 stores, but this does not include Natick.

Sears in Natick is located in the Natick Mall and includes an Auto Center. There were 15 Massachusetts Sears left, including Peabody, Saugus, Braintree, Cambridge, Marlborough, Brockton, Leominster, Auburn and Hanover. Peabody and Springfield Sears are the only stores closing in Massachusetts.

Thursday's announcement follows the announced closing of more than 100 stores earlier this year.

Sears stores in the Burlington Mall and Berkshire Mall announced they would close earlier this year.

"As part of our ongoing efforts to streamline the Company's operations and focus on our Best Stores, we have identified approximately 100 non-profitable stores, 72 of which will begin store closing sales in the near future," the Illinois-based company said in a statement. "We continue to evaluate our network of stores, which are a critical component in our transformation, and will make further adjustments as needed and as warranted."

Sears reported a net loss of $424 million during the first quarter of 2018. During the first quarter last year, Sears saw earnings of $245 million, due in part to a $492 million gain related to the sale of the Craftsman brand.

"In a challenging quarter, we continued to focus on our strategic transformation, identifying additional opportunities to streamline operations and adjust inventory and operating expenses while staying focused on our Best Members, Best Categories and Best Stores," Chairman and Chief Executive Officer of Holdings Edward S. Lampert said in a statement.

Photo: Signs advertise the closing of a Sears store on May 3, 2018 in Chicago, Illinois. The store, which opened in 1938, is the city's last remaining Sears store. Sears opened its first retail store in Chicago in 1925

(Photo by Scott Olson/Getty Images)

Shannon Antinori contributed to this report