Sears Holdings Corp reported its first quarterly profit in nearly two years, as the retailer benefited from the sale of its Craftsman brand and a program to cut $1.25 billion in costs, amid doubts about its ability to continue as a going concern.
However, sales continued the
years-long decline, hurt by lower demand for groceries, apparel and home
appliances at the retailer's Sears and Kmart stores.
at Sears' U.S. stores open more than a year fell 12.4 percent, while at
Kmart it declined 11.2 percent in the first quarter ended April 29.. . . more