Sears Loses $61M in Q3

Share this article:
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.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.