Sears Holdings Corp. said Thursday its loss widened significantly in the second quarter and announced it may close additional stores on top of the 130 closures already underway this year.
Hoffman Estates-based Sears lost $573 million, or $5.39 per share, during the quarter ended Aug. 2, nearly three times the loss of $194 million, or $1.83 per diluted share, during the same period last year. Adjusting for one-time items, its loss was $313 million, or $2.87 per diluted share.
It is the ninth consecutive quarter that the once-mighty retailer has reported losses as it attempts to transform itself from a traditional department store into a member-centric shopping service driven by its Shop Your Way rewards program.
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