Sears Holdings Corporation’s shares soar as loss narrows, sales continue to drop
Updated:7 years, 11 months ago
New Delhi, Dec 01 (ANI): Sears Holdings Corporation suffered a third-quarter loss as the ailing department-store faces a critical test during the holiday shopping season. The iconic department store chain shut down many of Kmart and Sears stores and lowered its operating costs. Though shares of Sears surged on the news, but they've dropped more than 50 percent this year. Once the largest U.S. retailer, Sears warned earlier in March that it could file for bankruptcy. The American holding company has not been able kept up with online competitors like Amazon. Sears' sales have been falling for years, with third quarter numbers marking its 24th straight decline.
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