Sears Holdings Corp.

Sears lost $748 million last quarter, will seek to close more stores

Sears lost $748 million last quarter, will seek to close more stores

Sears, the onetime standard bearer for U.S. retail, has posted quarterly losses for more than a year now, and sales continue to slide as the company shutters poorly performing stores.

The company's cash situation, which has led in the past to clashes with suppliers, is an ongoing concern. Cash and cash equivalents fell another 12 percent from last year at this time, to $258 million.

On Thursday, Sears said it had $174 million remaining in a $1.97 billion revolving credit facility.

In the spring, Sears said that it was exploring its options for its Kenmore, DieHard and Craftsman brands, in addition to its vast real estate holdings.

It continues to do...

31°