YOUR FRIENDS' ACTIVITY

    Sears 2Q loss narrows; sales keep falling

    Associated Press – Thu, Aug 16, 2012

    HOFFMAN ESTATES, Ill. (AP) — Sears Holding Corp. says its second-quarter loss narrowed as the retailer cut expenses and reduced inventory.

    Its adjusted earnings met Wall Street expectations. Revenue fell short because of weaker sales at both Sears and Kmart stores.

    The company reported Thursday that it lost $132 million, or $1.25 per share, for the period ended July 28. That compares with a loss of $146 million, or $1.37 per share, a year ago.

    Excluding costs tied to store closings, a pension expense and other items, the company lost 86 cents per share.

    Revenue dropped 7 percent to $9.47 billion, missing Wall Street's $9.68 billion estimate.

    On Monday Sears said that it is moving forward with plans to spin off its Hometown and Outlet stores along with some hardware stores into a separate company.

    Loading...

    More Business News

     

    News for You »

    • Man charged with tossing wife off cruise ship

      SANTA ANA, Calif. (AP) — A California grand jury has indicted a Florida man on charges he strangled his ex-wife and tossed her off a cruise ship in Italy.

    • Bieber behind wheel as car hits man in Hollywood

      LOS ANGELES (AP) — Video shows Justin Bieber running into a photographer with his white Ferrari in Hollywood, but police say there was no crime and the injuries aren't life-threatening.

    • 3 charged in Ohio with enslaving mother, daughter

      CLEVELAND (AP) — Three Ohioans are accused of enslaving a mentally disabled young mother and her daughter over two years.

    • Ancient Toilet Reveals Parasites in Crusader Poop

      Intestinal parasites have been found lurking in ancient poop in the toilet of a medieval castle in western Cyprus, scientists report.

    • Kim and Kanye's Baby Name Is Not That Strange

      It's being reported that rapper Kanye West and his reality star girlfriend Kim Kardashian have named their brand-new baby, born this weekend, Kaidence Donda West. Donda was Kanye's late mother's name, so that makes sense, but, um, Kaidence? What's going on with Kaidence?

    • Texas teacher finds bag, returns more than $200K

      An unemployed teacher who thought a bag on a road carried a dirty diaper found more than $200,000 and returned the cash to a bank. The Eagle (http://bit.ly/1bVj7OR ) newspaper reported Wednesday that Chase ...

    • Optimism fading, Brazil protests put leaders on alert

      By Paulo Prada RIO DE JANEIRO (Reuters) - When more than 200,000 protesters took to the streets across Brazil on Monday night, they demanded a dizzying array of improvements - from halting the fast rise of prices to cleaning up government corruption. If one message stood out, it was that Brazilians are no longer willing to accept the rosy outlook that politicians in Latin America's biggest country have been painting for years. Until recently, Brazil was one of the world's most envied economies. ...

    • 3 charged with enslaving disabled Ohio mom, child

      ASHLAND, Ohio (AP) — A mentally disabled woman charged with shoplifting a candy bar asked to be jailed because three people "had been mean to her" — then went on to tell authorities about her time spent in unfathomably cruel servitude, along with her young daughter, at the hands of three people, authorities said Tuesday.

    Show More
    Loading...

    Follow Yahoo! News

    Brought to you byYahoo! Finance