(Reuters) – Sears Holdings Corp (SHLD.O: Quote, Profile, Research, Stock Buzz) reported a wider quarterly net loss on Thursday after sales fell at both its namesake department stores and its Kmart discount chain and it invested in more promotions targeting rewards members.
The company is trying to engineer a turnaround. Sales have been falling since 2005, when hedge fund manager Edward Lampert merged the two U.S. chains in an $11 billion deal.
(Reuters) – Lowe’s Cos Inc’s (LOW.N: Quote, Profile, Research, Stock Buzz) quarterly profit slightly missed Wall Street estimates, and the No. 2 home improvement chain did not raise its fiscal-year outlook as much as analysts had hoped, sending its shares lower.
Wednesday’s news came the day after larger rival Home Depot Inc (HD.N: Quote, Profile, Research, Stock Buzz) posted strong quarterly results and raised its forecast for the year for the third time in three quarters.
(Reuters) – Best Buy Co (BBY.N: Quote, Profile, Research, Stock Buzz) is cutting prices for the holiday season to thwart fierce competition from Wal-Mart and other discount and online rivals, a move that it warns will hurt margins for the current quarter.
Tuesday’s news took some momentum from Best Buy’s stock, one of this year’s hottest, sending the shares down as much as 11 percent. But many Wall Street analysts said the strategy is needed as Best Buy, the No. 1 U.S. consumer electronics retailer, battles to stay relevant and tries to change the perception that its prices are higher than those of many rivals.