Thursday, March 9, 2017

Sears’ loss narrows but other problems widen

Sears Holding Corp. narrowed its adjusted loss in its fourth quarter, but its revenue continued to erode and its debt obligations continued to mount.
Sales plunged 17% to $6.05 billion in the quarter ended Jan. 28, down from $7.3 billion a year earlier. Although the chain’s reduced store portfolio contributed to the decline, same-store sales fell 10.3%, driven by an 8% drop at Kmart and a 12.3% at Sears.. . . more

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