“The rating on Sears Holdings Corp. reflects Standard & Poor’s expectations that sales will remain under pressure in the fourth quarter of 2011 and into 2012, due to intense competition and weak consumer demand in the fragile economic recovery,” said S&P credit analyst Ana Lai. “Negative sales trends, combined with margin pressure from intense competition and subpar execution should result in much lower-than-expected earnings in 2011 and further deterioration in credit measures.”
On Thursday, Sears reported a $421 million third-quarter loss as revenues declined 1.2 percent to $9.57 billion.
Shares of Sears slipped 1.4 percent to $64.27 Friday.
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)