Sears Posts Q2 Loss
Sears Holdings Thursday said it posted a loss of $39 million, a reduction from the loss of $94 million that the company posted the same period last year.
The company reported a 2.8 percent decrease in sales at domestic Sears stores, attributed to lower sales in the CE category, as well as lawn-and-garden and tools. Sales declined 1.4 percent at Kmart.
"Overall, our total revenues declined only slightly despite the uncertain economic environment faced by our customers," acting CEO W. Bruce Johnson said as part of the announcement. "Expense discipline remained constant in the second quarter as reductions in selling and administrative expenses were achieved even as we continued to invest in initiatives designed to improve our customers' experiences."