Sears Holdings Corp reported a wider-than-expected quarterly loss Tuesday as sales fell at its US Kmart and Sears Roebuck divisions and said it would close additional stores. The loss was $146 million, or $1.16 a share, for the third quarter ended Nov. 1, compared with profit of $4 million, or 3 cents a share, a year earlier.
US sales at stores open at least a year declined 11% at Sears and 7% at Kmart.
Sears Holdings is now trading at 33.00; it was trading above $100 as recently as two months ago. Merging Kmart and Sears Roebuck was a marriage made in hell from the beginning.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment