NEW YORK — Sears recorded its fourth straight year of falling profit and revenue, even as cost cutting and store closures helped narrow its loss for the fourth quarter.
Sears Holdings, which runs Kmart and its namesake stores, has been closing stores, selling assets and slashing inventory as it continues with efforts to turn around its business.
Sears lost $159 million, or $1.50 per share, for the period ended Jan. 31. A year earlier it lost $358 million, or $3.37 per share. Revenue declined to $8.1 billion from $10.59 billion.
Read Friday’s Arkansas Democrat-Gazette for full details.