Sears Holdings posts 3Q loss

HOFFMAN ESTATES, Ill. Sears Holdings reported a net loss of $146 million, or $1.16 per diluted share, for the third quarter 2008 compared with net income of $4 million, or 3 cents per diluted share, in the prior year.

For the quarter, total revenues declined approximately $0.9 billion to $10.7 billion in fiscal 2008, as compared to $11.6 billion for the third quarter of fiscal 2007. The decrease in revenue primarily reflects the impact of lower domestic comparable-store sales.

For the quarter, total domestic comparable-store sales declined 9%. Comparable-store sales declines continue to be driven by categories directly impacted by housing market conditions and a slowdown in consumers' discretionary spending.