Sears Lost $421 Million Last Quarter, Didn't Spend It Fixing Up Stores

Sears Lost $421 Million Last Quarter, Didn't Spend It Fixing Up Stores

Last year, I formulated a theory that the continued existence of Sears is a massive anti-capitalist prank. The stories that readers send us indicate that the chain isn’t very good at key parts of retailing: attracting customers, selling merchandise to them, and not actively driving the customers you already have away. It’s not just Consumerist readers avoiding Sears these days: the power couple of Sears and Kmart lost $421 million in the quarter that ended on October 29. [More]