Sears and Kmart Get Lump of Coal for Christmas

  • by:
  • 08/21/2022

Sears and Kmart Get Lump of Coal for Christmas (Reuters)

Sears Holdings Corp (SHLD) reported that comparable store sales during the holiday season at its Kmart and Sears chains continued the broader company’s decline. But, it may be that those poor holiday figures were really just the start of something much worse for these two former icons of American retail. That’s because those same store sales are down significantly more since the start of 2014. Kmart sales have tumbled 5.7 percent to begin the year, while Sears post-holiday sales started the year off even worse, down 9.2 percent. Sears’ share price reflected this bad news, closing down 14.3 percent (at $36.50) in after hours trading. If you’re still holding onto shares of the company, you may want to consider selling before things get even uglier.

Image:
ADVERTISEMENT

Opinion

View All

British schoolchildren more violent due to lockdown–causes developmental delays: BBC study

Nearly one in five teachers at schools across England reported being hit by a student in the past yea...

London features 'Happy Ramadan' lights throughout city over Easter weekend

The lights have drawn criticism from prominent conservatives who insisted that the council ought to s...

Polish foreign minister claims US was aware of Nord Stream pipeline attack but 'did not prevent it'

Radoslaw Sikorski suggested it was done by "someone who had a vested interest in it."...

Russia claims it has proof Ukraine is linked to Moscow terror attack

White House national security spokesperson John Kirby called the allegations "nonsense and propaganda...