Sears Posts Wider Third-quarter Net Loss On Lower Revenue
Sears Holdings Corp. on Thursday reported a third-quarter net loss attributable to shareholders of $548 million, or $5.15 a share, wider than its loss of $534 million, or $5.03 a share, in the year-earlier period. The retailer's revenue fell to $7.21 billion from $8.27 billion a year ago, stemming in part from Sears's separation from its Land End business. Analysts polled by Thomson had expected revenue of $6.88 billion for the most recent period. Sears also said domestic same-store sales fell 0.7% for the third quarter, compared with a 4% decline in the year-ago quarter. Online and multi-channel sales during the quarter rose about 9% from the same period last year.
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