Sears Reports Yet Another Disappointing Quarter
Sears Holdings announced financial results for its second quarter ended 4 August 2018. The retailer reported a net loss attributable to Shareholders Holdings' of USD508 million. The Company generated total revenues of approximately USD3.2 billion during the second quarter of 2018, as compared to USD4.3 billion during the same period last year, with store closures significantly contributing to the y-o-y decline. Total comparable store sales declined 3.9% during the quarter, reflecting Kmart comparable store sales declining 3.7% and Sears comparable store sales declining 4%.