Sears sales fall by double digits again

Sears Holdings Corp., the retailer run by hedge fund manager Edward Lampert, posted a 10.6 percent drop in same-store sales last quarter, its second consecutive period of double-digit declines.

The company’s sales fell 13.9 percent at Searsbranded stores and they decreased 6.9 percent at its Kmart chain, according to a statement on Monday.

Sluggish demand for consumer electronics contributed to the decline, which follows an 11 percent drop in the first quarter. The Hoffman Estates, Illinois-based company said it is now working to revamp that product category.

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