Will Sears Holdings Ever Turn a Profit?

Will Sears Holdings Ever Turn a Profit?

CEO Edward Lampert has a plan to turn Sears Holdings (NASDAQ: SHLD) around. It involves closing unprofitable Sears and Kmart locations, building an audience for its Shop Your Way digital platform, and managing expenses well.

That sounds nice, but so far, the strategy has simply left the company in a bigger hole. While Lampert always talks as if a turnaround is well under way, the most recent quarter shows that's not happening.

Sears Holdings reported a Q3 loss of $550 million along with a same-store-sales drop of 17% at Sears and 13% at Kmart. The chain also saw revenue fall from $5 billion in Q3 last year to $3.7 billion in the third quarter this year.

Continue reading

Source: Fool.com