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Sears Holdings revenue falls for 20th quarter in a row
December 8, 2016 / 11:13 AM / a year ago

Sears Holdings revenue falls for 20th quarter in a row

Dec 8 (Reuters) - Retailer Sears Holdings Corp reported a 12.5 percent drop in revenue, marking its 20th straight quarterly decline, due to lower sales at its Kmart and Sears outlets as well as fewer stores in operation.

Total revenue fell to $5.03 billion in the third quarter ended Oct. 29 from $5.75 billion a year earlier.

Sales at stores open at least a year fell 7.4 percent.

Net loss attributable to Sears’ shareholders widened to $748 million, or $6.99 per share, from $454 million, or $4.26 per share, a year earlier.

Reporting by Sruthi Ramakrishnan and Siddharth Cavale in Bengaluru,

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