Sears reports wider-than-expected loss

Retail Reuters

NEW YORK (Reuters) - U.S. retailer Sears Holdings Corp <SHLD.O> reported a wider-than-expected quarterly loss as sales at its namesake stores plunged both at its home turf and in Canada.

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The company, whose sales have fallen every year since it was formed, reported a net loss of $170 million, or $1.58 a share, compared with a year-earlier net profit of $16 million, or 14 cents a share.

Excluding items, the loss was $1.39 a share, while analysts on average expected only a loss of $1.22, according to Thomson Reuters I/B/E/S.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

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