×
233
Fashion Jobs
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
MARAL OVERSEAS LIMITED
General Manager _ Accounts
Permanent · Noida
RANG BANDHEJ RETAIL PVT. LTD.
Accounts Executive
Permanent · Ahmedabad
SMART CONSULTANCY SERVICES
vp/General Manager (Operations)
Permanent · Chennai
TECHNOVALUE SOLUTIONS PVT. LTD
Senior Sales Engineer / Area Sales Manager
Permanent · Baddi
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
OAKBRIDGE PUBLISHING PVT LTD
Area Sales Manager
Permanent · Pune
AVANTOR
sr. Account Manager- Lab Products
Permanent · Kolkata
ANTLIA FINTECH PRIVATE LIMITED
Area Sales Manager
Permanent · Prayagraj
EXTRAMARKS EDUCATION
Area Sales Manager- B2B
Permanent · Hyderabad
ERA UNIVERSITY (ERA EDUCATIONAL TRUST)
Production Manager- Lucknow
Permanent · Lucknow
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Hyderabad
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
sr. Area Sales Manager / Territory Sales Manager - Fmcg Personal Care
Permanent · Purulia
NASCENT INFO TECHNOLOGIES PVT. LTD.
Sales Manager(Egovernance Software Solutions)
Permanent · Ahmedabad
MOTILAL OSWAL FINANCIAL SERVICES
Opening For Territory Manager B2B Sales - Mumbai
Permanent · Navi Mumbai
FORTUNE HR SOLUTIONS
Merchandising Manager
Permanent · Chennai
NAGA LIMITED
Manager - Production
Permanent · Dindigul
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
ERIS LIFESCIENCES LIMITED
Area Business Manager (Generics)
Permanent · Ahmedabad
DIGIKREDIT FINANCE
Requirement For Sales Manager :: Ahmedabad
Permanent · Ahmedabad
By
Reuters
Published
Dec 4, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Cost cuts help Sears post smaller-than-estimated loss

By
Reuters
Published
Dec 4, 2014

Sears Holdings Corp reported a quarterly net loss of $548 million, less than it had estimated last month, as the struggling retailer cuts costs after years of sluggish sales.

Sears had said that it was expecting a loss of $590 million-$630 million attributable to shareholders for the third quarter ended Nov. 1.

" ... We are seeing an improving (earnings before interest, tax, depreciation and amortization) trend, which we expect to continue in the fourth quarter," Chief Executive Eddie Lampert said on a pre-recorded call on Thursday.

Sears, owned 48.5 percent by Lampert and his hedge fund, has been selling assets to turn around its business.

The company said in October that it would cut stake in its loss-making Canada unit to shore up liquidity going into the holiday shopping season.

Over the past year, Sears has also separated its Land's End clothing business and shut some Kmart and Sears stores.

These steps helped the company cut total expenses by 12 percent in the quarter. Sears said it had generated $2.2 billion in liquidity in its fiscal 2014 so far from asset sales and other actions.

The company, once the largest U.S. retailer by revenue, has seen sales drop due to stiff competition from Target Corp, Wal-Mart Stores Inc and Home Depot Inc. Online retailers such as Amazon.com Inc have also eaten into its business.

Sears said last month it might sell up to 300 stores to a newly created real estate investment trust (REIT), which would then lease the properties back to Sears. A final decision on the move is pending.

If the company completes the plan, it will own 400-500 stores and lease 1,300-1,400 stores, Chief Financial Officer Rob Schriesheim said on a call on Thursday.

Sears had 1,050 Kmart stores and 781 Sears stores in the United States as of Nov. 1.

U.S. same-store sales fell 0.1 percent, in line with its forecast. Same-store sales rose 0.5 percent at Kmart stores, but fell 0.7 percent at Sears stores in the United States.

Revenue fell for the twelfth straight quarter, dropping 13 percent to $7.21 billion. Analysts on average had expected $6.88 billion, according to Thomson Reuters I/B/E/S.

Sears shares closed at $34.25 on Wednesday on the Nasdaq.

1 USD = 0.638566 GBP

© Thomson Reuters 2022 All rights reserved.