Sears, Kmart Sales Fall In Second Quarter

  • August 14, 2007
Sears Holdings, which had recently warned investors to expect lousy sales results for the second quarter, has delivered the bad news.

For the 13-week period, domestic comparable store sales fell 4.3% at Sears, with declines in most categories. (It did see increases in consumer electronics, women's apparel and footwear.)

And at Kmart, sales were down 3.8%. "While we recognize the housing market slowdown and other economic pressures have presented a noticeable headwind to the business, we are disappointed with our second-quarter results," the company says in its announcement. "We will work hard to improve our financial performance going forward."

--Sarah Mahoney

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