Sears becomes sinking ship as losses mount in Q3

Sears store
Same-store sales for Sears dropped 10% and 4.4% for Kmart.

Despite efforts to revive the slipping brand, Sears reported a 12.5% drop in revenue for the third quarter, bringing losses to $748 million, up from $454 billion during the same period in 2015. The company announced it would accelerate store closings to help with the losses, as same-store sales dropped 10% for Sears and 4.4% for Kmart. CFO Jason Hollar admitted the brand had "fallen short" of its own timetable for achieving profitability but remains "fully committed" to restoring value. (Business Insider)


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