|Sears 2Q loss widens as sales weaken at stores||| Print ||
|Written by Associated Press|
|Thursday, 22 August 2013 05:36|
HOFFMAN ESTATES, Ill. (AP) — Sears' second-quarter loss widened as the number of stores in operation declined and the retailer spun off its Hometown and Outlet brand.
For the period ended Aug. 3, Sears Holdings Corp. lost $194 million, or $1.83 per share. That compares with a loss of $132 million, or $1.25 per share, a year earlier.
Excluding one-time charges, it lost $1.46 per share.
Revenue for the company, based in for the Hoffman Estates, Ill., declined 6 percent to $8.87 billion from $9.47 billion, mostly due to store closings.
Revenue at Kmart stores open at least a year fell 2.1 percent. The figure dropped 2.5 percent for Sears stores in Canada open at least a year and dipped 0.8 percent for the Sears locations in the U.S.
Online sales, however, rose 20 percent.
Copyright 2013 The Associated Press.