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Sears Q2 net loss narrows
Hoffman Estates, Ill.-based Sears Holdings reported a second-quarter net loss of $132 million, compared with a loss of $146 million in the year-ago period.
Revenues totaled $9.5 billion for the quarter ended July 28, down 6% from $10.1 million in the second quarter of 2011. The company cited lower domestic comparable-store sales for the quarter and the effect of having fewer Kmart and Sears Full-line stores in operation. Sears Canada's comparable-store sales also decreased and included a decline of $55 million due to changes in foreign currency exchange rates.
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Sears narrows loss in Q2; sales continue falling
Hoffman Estates, Ill. -- Sears Holding Corp. reported Thursday a loss of $132 million for the quarter ended July 28, narrowed from a loss of $146 million in the year-ago period. The retailer cited expense cutting and reduced inventory for the performance improvement.