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Sears Holding projects 1Q loss

Retail Editor 2 -- Home Textiles Today, May 3, 2011

Hoffman Estates, Ill. - Sears Holding today said it expects to report a net loss for the first quarter of $145 million to $195 million.
Comsolidated same-store sales fell 3.6% for the quarter ended April 30, with comps off 5.2% at U.S. Sears stores and 1.6% at Kmart units. Comps at Sears Canada declined 9.2%.
Appliances had the most notable same-store sales drop, the company said. The home department was among those that improved comp performance during the quarter.

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