Sears Sees Sales Plummet, Warns of Profit Decline

Stock in Sears Holdings fell by more than 10% Tuesday after the retailer said that comparable-store sales at its Sears and Kmart stores were down by 4% and 3.9%, respectively, for the first nine weeks of its fiscal second quarter.

HOFFMAN ESTATES, Ill. — Stock in Sears Holdings fell by more than 10% Tuesday after the retailer said that comparable-store sales at its Sears and Kmart stores were down by 4% and 3.9%, respectively, for the first nine weeks of its fiscal second quarter. The sluggish performance — which Sears said could lead to quarterly profits dropping by 46%, excluding extraordinary items — “underscores our need to become more relevant to consumers while improving our discipline around expense management,”

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