Sears posts loss for ninth straight quarter
Aug 21 (Reuters) - Sears Holdings Corp, 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)
- Divided, Scots prepare to vote on fate of the United Kingdom |
- IPhone emerges from 'bygone era', reviewers hail bigger handset
- Fed renews zero rate pledge, but hints at steeper rate hike path |
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Islamic State campaign tests Obama's commitment to Mideast allies