Quartz – Sears reported earnings today, and it wasn’t pretty. The US-based retailer posted a loss of $402 million. This particular loss was driven by a poorly performing electronic-goods division—which the company hopes to turn around by focusing on “empowering connected living,” whatever that means—but it’s another chapter in an ongoing decline.
The company’s been shedding assets recently. CEO Eddie Lampert spun off the Lands’ End clothing brand earlier this year, and the company’s small-format stores, Hometown and Outlet, last year. Sears announced plans to close 80 more stores in 2014 after shuttering more than 90 last year. And Sears Holding is now looking at “strategic alternatives” for its auto centers, and to sell off 51% of its stake in Sears Canada.
