Excluding costs from store closings and other items, Sears lost 86 cents a share, which matched Wall Street’s expectations.
Quarterly sales fell 6.6 percent to $9.47 billion, from $10.1 billion. Analysts were looking for sales of $9.63 billion.
Lou D'Ambrosio, Sears chief executive officer and president, said, "We have improved our profit position, as we reduced expenses and expanded margin rate through more effective promotional design. We have also successfully lowered inventory, reduced debt from year-end, and enhanced our liquidity.”
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)