At Sears Domestic: Home is up, appliances down
Sears Holdings posted a net loss of 218 million in the third quarter ended Oct. 30, compared with a loss of $127 million in the same quarter last year.
Total revenues for the Hoffman Estates, Ill.-based company that includes Sears and Kmart decreased 5% to $9.7 billion.
Sears Domestic's comp-store sales declined 8.2%. The company said the sales decline was primarily driven by declines in the home appliances, apparel and consumer electronics categories, all of which experienced a greater decrease in the month of October.
Sears home categories -- along with footwear, jewelry and tires -- experienced comparable-store sales growth during the quarter.
The decline in sales of home appliances primarily resulted from overall softness in the appliance market, a lower average selling price realized during the quarter and the effects of delays in transition to new Kenmore products during the quarter, the company said.