Sears Posts Wider Loss as Loyalty Program Costs Increase
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Sears Holdings Corp., the retailer controlled by Edward Lampert, posted a wider second-quarter loss as loyalty program members used more discounts and appliance sales fell.
The net loss in the three months ended Aug. 3 expanded to $194 million, or $1.83 a share, from a deficit of $132 million, or $1.25, a year earlier, the Hoffman Estates, Illinois-based company said today in a statement. Excluding some items, the loss was $1.46 a share.