Integrated retailer Sears Holdings Corp. (SHLD) Thursday reported first-quarter net loss to shareholders of $279 million or $2.63 per share, compared with net income of $189 million or $1.78 per share last year.
Excluding items, adjusted loss for the quarter was $1.29 per share.
Revenues for the quarter slid to $8.5 billion from $9.3 billion a year ago, due to the effect of having fewer Kmart and Sears Full-line stores in operation, lower comparable store sales and the separation of the Sears Hometown and Outlet businesses which occurred in the third quarter of 2012.
Analysts polled by Thomson Reuters estimated a loss of $0.60 per share on revenues of $8.37 billion for the quarter. Analysts' estimates typically exclude special items.
Domestic comparable store sales declined 3.6% in the quarter, as much of the country experienced a cooler spring than last year. Sears Canada's comparable store sales declined 2.6%.
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