Sears Holdings Corp. reported a larger quarterly loss, citing tepid sales of apparel and appliances at its namesake department stores.
The company, which also operates Kmart discount stores, said its net loss widened to $218 million, or $1.98 a share, in the third quarter ended on Oct. 30 from $127 million, or $1.09 a share, a year earlier. Sales at the company, led by hedge fund manager Edward Lampert, fell about 5 percent to $9.68 billion.
Sales at U.S. stores open at least a year fell 4.8 percent, with declines of 0.7 percent at Kmart and 8.2 percent at Sears Domestic.
Earlier this week, the company’s Sears Canada unit said its third-quarter profit fell 61 percent as weaker consumer confidence weighed on sales.
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