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.


This article is part of the DMNPolitics site, in partnership with Fluent. Click on the footer to see all of our content about the 2016 Election

Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Latest Jobs:

Featured Listings