Sears Re­port Losses; Plans to Close more Stores

Perfect Sourcing - - International News -

Sears re­ported a nar­rower-than-ex­pected loss but said sales con­tin­ued to erode. The re­tailer posted a dou­ble-digit sec­ond quar­ter, de­cline cit­ing in a com­pa­ra­ble “re­tail en­vi­ron­ment sales for that the re­mained chal­leng­ing, with con­tin­ued soft­ness in store traf­fic and el­e­vated price com­pe­ti­tion. The depart­ment store chain That’s also an­nounced in ad­di­tion plans to the to close 180 28 Sears more and Kmart Kmart stores stores this it year. has shut­tered this year, and the 150 stores it plans to close by the end of the third quar­ter. In a bid to re­turn to prof­itabil­ity, the port­fo­lio, depart­ment cut­ting store costs chain and has seek­ing been ad­di­tional trim­ming liq­uid­ity. its real es­tate

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.