August 24, 2017 / 10:14 AM / 4 months ago

Sears posts loss in 2nd quarter

Aug 24 (Reuters) - Struggling U.S. retailer Sears Holdings Corp reported a loss in the second quarter, hurt by fewer customer visits to its stores and as the company offered more discounts amid intense industry competition.

The retailer also said it would close 28 Kmart stores later this year.

Net loss attributable to Sears narrowed to $251 million, or $2.34 per share in the second quarter ended July 29, from $395 million or $3.70 per share, a year earlier.

Revenue dipped to $4.37 billion from $5.66 billion, mainly due to store closures. (Reporting by Siddharth Cavale in Bengaluru; Editing by Sai Sachin Ravikumar)

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