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...