Sears Holdings Narrows Loss in Second Quarter
August 19, 2010,
Sears Holdings headquarters
HOFFMAN ESTATES, Ill.--Sears Holdings reported a second-quarter net loss of $39 million, as compared to the net loss of $94 million it posted in the second quarter of last year.
The parent company of Sears and Kmart was able to keep its expenses in check during the quarter, with selling, general and administrative expenses slipping by 0.9 percent and gross margin rising 50 basis points to 27 percent. Total revenues dipped 0.8 percent to $10.5 billion, which included a decline of 2.8 percent in same-store sales at Sears' domestic locations, and a 1.4 percent drop in comparable-store sales at Kmart.