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2Q loss widens for Sears Holdings
HOFFMAN ESTATES, Ill. — Sears Holdings turned in disappointing sales and earnings for its second quarter as the company strives to turn around its performance in a weaker consumer spending environment.
Sears Holdings reported a net loss of $146 million, or $1.37 per diluted share, for the second quarter compared with a net loss of $39 million, or 35 cents per diluted share for the same period last year.
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Ross Stores profit rises 15% in Q2
Pleasanton, Calif. -- Ross Stores reported Thursday that profit for the quarter ended July 31 rose 15% to $148.3 million, compared with $129.3 million a year earlier.
Sales for the quarter increased 9% to $2.1 billion, and same-store sales rose 5%.
“Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer," said Michael Balmuth, vice chairman and CEO.