Sears Holdings Corp reported a wider quarterly net loss on Thursday after sales fell at both its namesake department stores and its Kmart discount chain and it invested in more promotions targeting rewards members.The company is trying to engineer a turnaround. Sales have been falling since 2005, when hedge fund manager Edward Lampert merged the two U.S. chains in an $11 billion deal.The net loss in the third quarter ended on Nov. 2 widened to $534 million, or $5.03 a share, from $498 million, or $4.70 a share, a year earlier.Excluding severance costs, tax-related adjustments and a pension expense, the loss was $2.88 a share.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD traded higher by 0.15% or $0.09/share to $61.70. In the past year, the shares have traded as low as $38.40 and as high as $66.00. On average, 1136450 shares of SHLD exchange hands on a given day and today's volume is recorded at 711279.
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