Sears’ Sales Continue to Decline, Recording Seventh Money-Losing Year

Sears posted a net loss of $558 million during the third quarter, putting them on course to their seventh straight money-losing year.

However, the retailer has seen an improvement from last years $748 million third quarter loss.

The increasing amount of online shopping has forced a record number of store locations to close across the country.

To reduce their physical footprint, Sears has been testing smaller store formats in several states.

They are also looking to diversify their revenue through third-party partnerships within its Sears Home Services, Innovel, Kenmore and DieHard businesses.