The end of an era is here. According to this USA Today report, Sears has recorded a massive loss of $558 million. According to sources, the company will shut down most of their stores in Q1 2018.
Sears Holdings reported a third-quarter loss Thursday as the ailing department-store chain seeks stability and faces a critical test during the holiday shopping season.
After more than 400 recently announced store closures aimed at removing its weak spots, Sears said it lost $558 million for the quarter ended Oct. 28.
Despite the red ink, investors were heartened at first, sending shares up at much as 28% before they turned lower by late afternoon..
With gift buying in full swing, Sears confronts the challenge of trying to draw shoppers to stores as they increasingly flock online or to the retailer’s nimbler physical competitors.
If you found this article useful, please consider donating to fund my work.
Thomas Dishaw is an activist and the editor of govtslaves.info. He has written for naturalnews.com and has been the subject of numerous hit pieces published by The Daily Mail, New York Daily News, Forbes and Gawker. Thomas currently resides outside of Philadelphia, PA with his wife and dog. You can support Thomas' work by making a donation below or purchasing some gear from the Gov't Slaves Store. You can reach Thomas via email at firstname.lastname@example.org or follow him on Instagram.