- Sears Holdings (SHLD) reports a 7.6% drop in comparable store sales in Canada during Q1.
- In the U.S., comp sales at Sears were up 0.2% while Kmart saw a 2.2% fall.
- Gross margin rates crumbled across brands as the company leaned on promotions heavily and a shift in mix hurt. Free delivery on home appliances also cut in.
- Strategic alternatives continue to be looked at by the company for Sears Canada and the Sears Auto Center business.
- CEO Eddie Lampert waxes on about the transition of Sears to a member-centric business model even as the losses mount.
- SHLD -2.8%
at CNBC.com (Nov 18, 2014)