Top and bottom lines sag at Sears Holdings

News Breaks August 18th, 2011HOFFMAN ESTATES, Ill. ? Both sales and profits fell at Sears Holdings Corp. during the second quarter as fewer stores in operation, weaker same-store sales and lower gross margins took their toll. The companys net loss ballooned 274% to $146 million, or $1.37 per diluted share, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 69% to $79 million. Revenues dipped 1.2% to $10.33 billion, reflecting store closures, flat comparable-store sales at Kmart and a 1.2% decline in comp-store sales at Sears domestic outlets. We are not satisfied with our results and are