SHLD fairy tale finally crumbling
Sears Holdings loss widens in 3rd quarter
Sears Holdings reports wider 3rd-quarter loss; weakness at Sears offsets stronger Kmart
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Companies:
o Sears Holdings Corporation
o Target Corp.
o Wal-Mart Stores Inc.
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Symbol Price Change
SHLD 66.20 0.00
Chart for Sears Holdings Corporation
TGT 55.62 0.00
Chart for TARGET CORPORATION
WMT 53.77 0.00
Chart for WAL-MART STORES, INC.
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On Thursday November 18, 2010, 6:44 am
HOFFMAN ESTATES, Ill. (AP) -- Sears Holdings Corp., which operates Sears and Kmart stores, said Thursday its third-quarter loss widened, dragged down by continued weak revenue at its long-suffering Sears chain.
Business at its Kmart stores was stronger, but it still saw a key revenue measure edge downward as it faced stiff competition from rivals like Target and Wal-Mart.
Sears Holdings, led by billionaire Edward Lampert, posted a loss of $218 million, or $1.98 per share. That compares with a loss of $127 million or $1.09 per share in the same period last year. It's a wider loss than the $1.08 per share analysts expected.
Revenue fell 5 percent to $9.68 billion, short of analyst expectations of $9.89 billion. |
