Summary Box: Sears Holdings 2Q loss widens

AP News
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Posted: Aug 18, 2011 2:23 PM
Summary Box: Sears Holdings 2Q loss widens

THE NEWS: Sears Holdings Corp., which operates Sears and Kmart, said Thursday its second-quarter net loss widened as revenue fell 1 percent to $10.33 billion.

THE CONTEXT: The quarterly loss is the second in a row for Sears, which is led by billionaire chairman Edward Lampert, and the fourth in its last five quarters.

THE QUOTE: "We must continue to be purposeful in terms of where we're heading and ensure that all of our actions and decisions begin and end with our customer," CEO Lou D'Ambrosio said in a letter to employees obtained by The Associated Press.