Sears Holdings pushing to turn around business
Sears Holding said its adjusted third-quarter loss narrowed, as it pushed to turn around business. But sales in stores open at least a year continued to tumble in both its Kmart and Sears stores. To restore profitability, it has embarked on a plan to cut costs, reduce inventory, sell some assets and spin off others. It lost $498 million, or $4.70 per share, vs. a loss of $421 million, or $3.95, a year ago.