Sears posts loss for ninth straight quarter
Reuters
Published Aug 21, 2014 06:25AM ET
Sears posts loss for ninth straight quarter
(Reuters) - Sears Holdings Corp (O:SHLD), owner of Sears department stores and Kmart discount chain, reported its ninth straight quarterly loss as sales continued their decade-long fall.
Loss attributable to shareholders widened to $573 million, or $5.39 per share, in the second quarter ended Aug. 2 from $194 million, or $1.83 per share, a year earlier.
The company, controlled by billionaire hedge fund manager Eddie Lampert, said revenue fell 9.7 percent to $8.01 billion.
Sears Canada Inc, in which Sears holds a 51 percent stake, reported on Wednesday its ninth loss in 14 quarters as sales continued to decline.
(Reporting by Shailaja Sharma in Bangalore; Editing by Kirti Pandey)
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