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Thursday, December 4, 2014

Cost cuts help Sears post smaller-than-estimated loss, (NASDAQ: SHLD)

Sears Holdings Corp reported a quarterly net loss of $548 million, less than it had estimated last month, as the struggling retailer cuts costs after years of sluggish sales.Sears had said that it was expecting a loss of $590 million-$630 million attributable to shareholders for the third quarter ended Nov. 1." ... We are seeing an improving (earnings before interest, tax, depreciation and amortization) trend, which we expect to continue in the fourth quarter," Chief Executive Eddie Lampert said on a pre-recorded call on Thursday.Sears, owned 48.5 percent by Lampert and his hedge fund, has been selling assets to turn around its business.

Sears Holdings Corporation is a retailer with approximately 1,980 full-line and specialty retail stores in the United States operating through Kmart and Sears and 449 full-line and specialty retail stores in Canada operating through Sears Canada, Inc. Shares of SHLD traded higher by 0.91% or $0.31/share to $34.25. In the past year, the shares have traded as low as $22.45 and as high as $48.96. On average, 1844900 shares of SHLD exchange hands on a given day and today's volume is recorded at 1098229.