Tags: Earns | Sears Holdings

Sears Holdings' Loss Widens, Misses Expectations

Thursday, 18 Aug 2011 07:55 AM

 The operator of Sears and Kmart stores says it lost more money in the second quarter as it mark downed items to clear shelves for fall merchandise.

Net loss for long-struggling Sears Holdings Corp. totaled $144 million, or $1.37 per share. That compares with a loss of $39 million, or 35 cents per share, last year.

Excluding one-time items, net loss totaled $1.13 per share. Analysts expected a smaller loss of 64 cents per share.

Revenue fell 1 percent to $10.33 billion. Analysts expected $10.22 billion.

Revenue at stores open at least a year was flat at Kmart and down 1.2 percent at Sears.

The company is working to turn around results by cutting costs, closing underperforming stores and launching exclusive lines such as the Kardashian Kollection at Sears.

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The operator of Sears and Kmart stores says it lost more money in the second quarter as it mark downed items to clear shelves for fall merchandise.Net loss for long-struggling Sears Holdings Corp. totaled $144 million, or $1.37 per share. That compares with a loss of $39...
Earns,Sears Holdings
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2011-55-18
Thursday, 18 Aug 2011 07:55 AM
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