We all know that Sears Holdings Corp is struggling. In fact, it planned to close some of its stores. Recently, the company reported a total net loss of $548 million. Though it is less than what it anticipated last month, it is still bad news for the company, considering the fact that the amount is no joke at all. The company also announced how it plans to double the initial number of stores that they are going to close down in order to cut costs. On Nasdaq, Sears’ shares went down by 1.2 percent at $33.85 in early trading.
The original forecast of Sears Holdings Corp is that they would incur a loss that range between $590 million to $630 million for the third quarter of this fiscal year ending Nov. 1. The actual loss only resulted to $548 million, which is a little less than what it expected. Though it might be a good news, a company that is losing is still considered to be a struggling company.
Will the Sears Holdings Corp be able to cope up with its continuous loss after they will close some of its stores? Will the number of stores they are planning to close down will continue to increase? The answers to these questions are yet to come.