Sears Holdings Corp.

Sears revenue continues decline amid tough landscape

Sears revenue continues decline amid tough landscape

Sears' extended decline in sales continued during the first quarter and the storied retailer vowed additional spending cuts to offset its slowing business.

The company reported a loss of $222 million, or $2.15 per share on weak sales. The company has been closing stores and selling brands long affiliated with Sears, including Craftsman.

A year prior, the company reported a loss of $181 million.

Revenue fell 20 percent, to $4.3 billion, and same-store sales fell 11.9 percent.

In March, Sears Holdings Corp. said there is "substantial doubt" it could continue as a viable concern with intense pressure coming from companies like Wal-Mart, Target and...

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