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Lands' End plans to exit more Sears stores

Lands' End Inc. is looking to close more of its sites in Sears Holdings Corp. locations and invest in smaller standalone stores, Bloomberg News reported June 12, citing a telephone interview with Lands' End CEO Jerome Griffith.

The U.S. apparel retailer, which was previously a subsidiary of Sears, has been shutting its locations in the troubled department store chain since its split from the company in 2014. According to the report, Lands' End still had 159 stores in Sears locations at the end of the first quarter but it plans to cut that down to 100 by the end of 2018.

The report said Lands' End is investing in new retail concepts that are about a third of the size of stores it currently operates. It also plans to add four to six new stores this year and projects an additional 40 to 60 new locations in a span of five years, the news outlet said.

The report follows the Dodgeville, Wis.-based retailer's plan to close an additional 63 Sears and Kmart locations in early September.