Sign in to comment!

Menu
Home

Economy

Sears shares plunge after hours on slower sales, forecast for major losses

Sears shares fell in extended trading after the retailer reported a sales drop and forecast a major loss.

The struggling retailer says that it expects an adjusted loss between $213 million and $316 million, or $2.01 to $2.98 per share, for its fourth quarter. For the year, it sees an adjusted loss between $811 million and $914 million, or $7.64 to $8.61 per share.

The owner of the Kmart and Sears chains also says that its revenue from stores open at least a year fell 7.4 percent for the quarter to date in the U.S. and 4.4 percent for Sears Canada. This is a key measure as it strips away the impact of recently opened or closed stores.

Sears Holding Corp. shares fell 13 percent after hours to $36.98.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.95% dw 4.01%  
15 Y Fixed Graph 3.10% dw 3.12%  
30 Y Fixed Jumbo Graph 4.23% up 4.22%  
5/1 ARM Graph 3.09% dw 3.11%  
5/1 Jumbo ARM Graph 3.53% up 3.52%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.65% dw 4.67%  
$50K HELOC Graph 4.02% dw 4.04%  
$30K Loan Graph 4.97% dw 5.00%  
$50K Loan Graph 4.33% dw 4.36%  
$75K Loan Graph 4.33% dw 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.69% -- 2.69%  
36 M Used Graph 3.18% -- 3.18%  
48 M New Graph 3.02% -- 3.02%  
48 M Used Graph 2.91% -- 2.91%  
60 M New Graph 3.07% up 3.06%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% dw 0.39%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.50% -- 1.50%