Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The Sears store at the CambridgeSide Galleria mall in Cambridge, Mass.
The Sears store at the CambridgeSide Galleria mall in Cambridge, Mass.

Sears posts wider-than-expected loss Add to ...

U.S. retailer Sears Holdings Corp. reported a wider-than-expected quarterly loss as sales at its namesake stores plunged both at its home turf and in Canada.

The company, whose sales have fallen every year since it was formed, reported a net loss of $170 million, or $1.58 a share, compared with a year-earlier net profit of $16 million, or 14 cents a share.

More related to this story

Excluding items, the loss was $1.39 a share, while analysts on average expected only a loss of $1.22, according to Thomson Reuters I/B/E/S.

In the know

Most popular videos »

Highlights

More from The Globe and Mail

Most popular