There’s No End In Sight To Sears’ Huge Sales Drops

by MR Magazine Staff

The quickly shrinking retailer reported on Thursday that comparable sales last quarter fell 7.5% at its Kmart discount chain and 9.6% at its namesake stores. That was despite closing many underperforming locations, and the results were well below those recently posted by rivals ranging from Walmart 1.18% to Macy’s 1.40% . Sears tried to downplay the poor showing, saying half the decline in the comparable sales was from apparel and consumer electronics—categories that offer low margins. Read more at Fortune.