Sears 3rd-quarter loss widens as sales weaken at its Kmart and Sears stores

HOFFMAN ESTATES, Ill. – Sears’ third-quarter loss widened as the ailing department store operator’s results were hurt by weaker sales at its Kmart and Sears stores.

The quarterly results underscore the challenges Sears faces as it heads into the critical holiday shopping season.

The Hoffman Estates, Ill., company lost $534 million, or $5.03 per share, in the three-month period ended Nov. 2. That compares with a loss of $498 million, or $4.70 per share, a year earlier.

Sears Holdings Corp. said Thursday that revenue fell 7 per cent to $8.27 billion from $8.86 billion mostly because it had fewer Sears and Kmart stores operating.

Revenue at stores open at least a year dropped 3.1 per cent. The figure fell 4 per cent at Sears’ locations and declined 2.1 per cent at Kmart stores.