Sears Loses $61M in Q3

Share this content:
Sears, Roebuck and Co. yesterday reported a net loss of $61 million for the third quarter ended Oct. 2 compared with net income of $147 million for the year-ago period.


"A number of factors contributed to a disappointing third quarter, including softer retail demand, larger-than-expected costs associated with seasonal transitions and a slower ramp up of sales following certain business resets," Sears chairman/CEO Alan J. Lacy said in a statement.


Other factors contributing to the loss include that the domestic segment reported an operating loss of $106 million for the quarter while merchandise sales and services revenue totaled $7.1 billion compared with $7.4 billion in the year-ago period.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above