Sears Holdings posts loss of nearly $1 billion

[thelakelander]

I wonder how long these guys are going to be around?

Sears Holdings announced Thursday that it had lost nearly $1 billion in the first six months of the year.

The company has been bleeding money for several quarters as its leadership tries to transform the business from a traditional retailer into a more targeted company that relies on loyal shoppers, who are offered personalized deals.


Members of its free Shop Your Way rewards program accounted for 73 percent of quarterly sales, the company said Thursday, and its online sales in the quarter grew 18 percent from the period a year earlier.

Nonetheless, rewards for the company have not materialized.

Sears Holdings, which owns Sears and Kmart stores, lost $573 million during its second quarter and $975 million during the first half of the year. The company's quarterly revenue declined to $8 billion, from $8.9 billion in the period a year earlier.

full article: http://www.bostonglobe.com/business/2014/08/21/sears-holdings-posts-loss-nearly-billion-struggles-transform/aHi8332Gvopm9U5cp1umlL/story.html

[coredumped]

Sad to hear, I don't think Sears is as bad as people say and their kenmore brand is pretty good.
It was a huge mistake of them to stop making most of their craftsman tools in America.

[coredumped]

To add (can't edit, on mobile) they should give up on the Kmart brand. Sell it or close it. You know you have a bad reputation when people would rather say they went to Walmart instead Kmart.