May 22 Sears Holdings Corp posted a
bigger loss for the first quarter as the struggling retailer
failed to arrest the fall in sales despite offering heavy
discounts to woo shoppers.
The Eddie Lampert-controlled company's loss attributable to
shareholders widened to $402 million, or $3.79 per share, in the
quarter ended May 3 from $279 million, or $2.63 per share, a
The company, which operates Sears department stores and the
Kmart discount chain, said revenue fell 6.8 percent to $7.88
Sears Canada Inc, in which Sears holds a 51 percent
stake, posted its steepest fall in quarterly sales in almost
five years on Wednesday.
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Kirti