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Sears comp sales continue decline, loss in line with forecast
November 30, 2017 / 11:14 AM / in 11 days

Sears comp sales continue decline, loss in line with forecast

Nov 30 (Reuters) - Sears Holdings Corp continued its streak of declining sales in the third quarter, reporting a double-digit drop in comparable sales at its Sears and Kmart chains.

Sales at Sears stores open for more than a year fell 17 percent in the quarter ending Oct. 28, while comparable sales at Kmart fell 13 percent.

Net loss attributable to shareholders was $558 million, in line with the forecast of $525 million to $595 million Sears gave earlier this month, citing store closures.

The struggling retailer posted a loss of $748 million in the same quarter a year ago. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D‘Souza)

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