Sears Posts Huge 3rd-Quarter Loss
Sears Posts Huge 3rd-Quarter Loss
Sears Holdings Corp., the largest department store chain in the US, reported third-quarter results on Thursday, posting a widened loss as the nation's consumers continue to exercise caution amid high levels of joblessness.
The company's net loss for the quarter widened to $218 million, or $1.98 per share, comapred to a narrower loss of $127 million, $1.09 per share, in the same period of 2009. Excluding certain items, the loss was $1.71 per share, far exceeding the consensus estimate of $1.11 per share in a recent Bloomberg survey.
Sears has been suffering in the appliances and home-improvement categories since federal tax credits for homebuyers expired at the end of April. The firm's total sales fell by 5 percent in the quarter to $9.7 billion as shoppers were hesitant to spend on appliance, seasonal clothing, electronics, and other discretionary items.
Sears Holdings Corp., the largest department store chain in the US, reported third-quarter results on Thursday, posting a widened loss as the nation's consumers continue to exercise caution amid high levels of joblessness.
The company's net loss for the quarter widened to $218 million, or $1.98 per share, comapred to a narrower loss of $127 million, $1.09 per share, in the same period of 2009. Excluding certain items, the loss was $1.71 per share, far exceeding the consensus estimate of $1.11 per share in a recent Bloomberg survey.
Sears has been suffering in the appliances and home-improvement categories since federal tax credits for homebuyers expired at the end of April. The firm's total sales fell by 5 percent in the quarter to $9.7 billion as shoppers were hesitant to spend on appliance, seasonal clothing, electronics, and other discretionary items.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.