Shares of Sears Holding (SHLD) lost almost a fifth of their value on the final trading day of the week. The retailer operating Kmart, Sears and Roebuck stores reported its third quarter results on Thursday after the close.
Third Quarter Results
Sears Holding reported third quarter revenues of $8.86 billion, down 5.8% on the year. Domestic comparable store sales fell by 3.1% on the back of a 1.6% decline of Sears US and 4.8% decline at Kmart. Same store sales fell by 5.7% for Sears Canada. Revenues did beat analysts consensus, who were looking for sales of $8.58 billion.
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