Sears’ same-store sales losses narrow but warns it may go out of business
(Reuters) – Sears Holdings Corp (SHLD.O) reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company’s continued operation as it awaits approval to sell some of its businesses to its chief executive’s hedge fund.
Sears Delayed Second Quarter Earnings Reaffirms Its Zombie Retailer Status
One can’t blame Sears Holdings (SHLD) for not wanting to share its second quarter results.
The dying owner of the Sears and Kmart brands was scheduled to report its latest results today before the market open. For unknown reasons, it opted to put off the release until after the close. Shares cratered 9% on the session.
And while embattled Sears CEO Eddie Lampert tried to put lipstick on a pig, the second quarter did little to suggest the company is pulling itself out from the grave.
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