Sears reports smaller-than-estimated quarterly loss

04/12/2014 - 12:25

(Reuters) - Sears Holdings Corp reported a quarterly net loss of $548 million, smaller than the range it had estimated last month, as the retailer cuts costs after years of sluggish sales.

Sears said last month it was expecting a loss of $590 million-$630 million for the third quarter ended Nov. 1.

The company had reported net loss of $534 million attributable to shareholders in the third quarter of 2013.

Sears' U.S. same-store sales fell 0.1 percent, in line with its forecast.

(Reporting by Sruthi Ramakrishnan and Nathan Layne; Editing by Kirti Pandey)