Sears Will Report Large Q4 Losses

Sears Holdings Corp. (Hoffman Estates, Ill.) has forecast a loss in its fourth quarter, ending Feb. 1, 2014, of between $250 million and $360 million.

Though the loss would be less than the $489 million the retailer suffered in the same quarter a year ago, the news was bad enough to send Sears’ stock tumbling.

During the most recent holiday period, same-store sales fell 9.2 percent at Sears stores and 5.6 percent at Kmart stores.

“The results we posted are not nearly what we want them to be,” ceo Edward Lampert said yesterday on a corporate blog on the Sears website.