WATERLOO — The Kmart location in Waterloo will close by April, parent company Sears announced Wednesday.
The retailer at 3810 University Ave. is on a list of 108 Kmart stores that will close, according to the publication Business Insider, which obtained an internal company document. Waterloo Kmart officials verified the news to The Courier.
Two other Iowa Kmart locations — in Dubuque and Sioux City — also will close, according to the publication.
Besides the Kmart stores, 42 Sears stores around the country also will close, none in Iowa.
The latest announcement means Sears will have fewer than 1,500 Kmart and Sears stores left after April, down from almost 3,500 in 2011. The company told Business Insider it blames falling sales.
A manager at the Waterloo Kmart said he did not know the exact date the store will close. He referred other questions to corporate officials.
Company officials could not be reached Wednesday.
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Kmart opened its 106,000-square-foot University Avenue store April 5, 1967, according to Courier archives. A second Kmart opened near Crossroads Center in 1975. It closed along with 325 other Kmarts in 2003, a year after Kmart filed for bankruptcy. Kmart merged with Sears in 2004.
In 2011, Kmarts in Cedar Rapids and Davenport closed.
The manager of the Waterloo Sears store in 2011 told The Courier his store was one of the top-performing stores in the country.
Also Wednesday, Macy’s announced it was eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season.
The company said the 68 store closures, which span the nation, are part of the 100 closings announced in August. Of the 68, three were closed in 2016, 63 will close in the spring and two will be closed by the middle of 2017.