Sears Falls as Third-Quarter Loss Widens
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Sears Holdings Corp., the retailer controlled by hedge-fund manager Edward Lampert, fell the most in more than 10 months after posting a wider third-quarter loss and its 23rd straight quarterly sales decline.
Sears fell 16 percent to $49.17 at 10:08 a.m. in New York and earlier slid as much as 17 percent for the biggest intraday decline since Dec. 27. The Hoffman Estates, Illinois-based company’s shares had more than doubled through the close of regular trading yesterday.