Sears posts smaller-than-expected quarterly loss

Thu Nov 15, 2012 4:27pm EST

Nov 15 (Reuters) - Sears Holdings Corp reported a smaller-than-expected quarterly loss as it managed costs and maintained a leaner inventory.

Sears' third-quarter net loss from continued operations widened to $498 million, or $4.70 per share, from $410 million, or $3.85 a share, a year earlier.

On an adjusted basis, the loss was $1.99 per share.

Analysts on average had expected a loss of $2.18 per share, according to Thomson Reuters I/B/E/S.

Sales fell 6 percent to $8.86 billion, while analysts expected $8.59 billion.