Pursuits
Sears Holdings Tumbles After Same-Store Sales Decline
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Sears Holdings Corp., the department-store chain majority-owned by Edward Lampert, dropped the most in almost a year in Nasdaq trading after comparable-store sales fell and the company predicted a first-quarter loss.
Sales at stores open at least a year declined 3.6 percent in the quarter ended April 30, the Hoffman Estates, Illinois-based company said yesterday in a statement. The first-quarter loss will be $1.35 to $1.81, compared with the 3-cent profit predicted on average by analysts surveyed by Bloomberg.