Sears CEO Cries 'Transformation' While Sales Skid, Loss Steepens — forbes.com

So far this year Sears Holdings Sears Holdings — owner of various Sears brands, Roebuck and Co. as well as Kmart Corporation — has closed 80 stores and spun off Lands’ End through a pro rata distribution to shareholders. What’s next for the struggling retailer? The company seems to be leaving all options on the table as its billionaire CEO touts a sea change. Sears Holdings Sears Holdings reported $7.9 billion in first quarter revenue down $573 million from the same period a year ago. The decline in revenue can partially be attributed to store closures, as well as lost revenue from the Land’s End spinoff. Nevertheless much of the decline is from declining sales at Sears Canada, lower same store sales and shrinking home services and delivery sales.

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