May 31, 2018 / 10:13 AM / 3 months ago

Sears first-quarter revenue falls 31 percent

May 31 (Reuters) - Sears Holdings Corp reported a 31.2 percent fall in quarterly revenue on Thursday, as the struggling department store operator continued to close underperforming Kmart and Sears outlets.

The retailer reported a net loss attributable to the company of $424 million, or $3.93 per share, in the first quarter ended May 5, compared to a profit of $245 million, or $2.29 per share, a year earlier.

The year-ago quarter had a $492 million benefit related to the sale of Sears’ Craftsman brand.

Revenue fell to $2.89 billion from $4.2 billion in the reported quarter. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

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