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The US universal markets chain Sears continue to have difficulty in the second quarter, when its sales have declined amid strong competition from giants such as Walmart and Amazon

Hoffman Estates, the operator of Sears and Kmart, is trying to reduce the cost by closing stores, including 180 already closed this year, and plans to close another 150. The divestment is scheduled to release 28 Kmart stores further.

The company reported today that in the second quarter its loss has contracted to 251 million USD or 2.34 USD per share. Adjusted for one-time proceeds and costs, losses amounted to 1.16 USD per share.

The company’s revenue fell by 23% to 4.37 billion USD. The sales in stores that have been open for at least am year have fallen by 11.5%. For Kmart, the drop was 9.4% and Sears at 13.2%.

