NEW YORK (Reuters) - Retailer Sears Holdings Corp reported a wider-than-expected quarterly loss on Thursday as consumers curbed spending in a grim U.S. economy.
The company, run by hedge fund manager Edward Lampert, blamed a lackluster performance by its Kmart discount chain on weak food sales. Sears' namesake department stores suffered from reduced demand for lawn and garden products, tools and consumer electronics.
Sears Holdings' net loss narrowed to $39 million, or 35 cents a share, in the second quarter ended July 31 from $94 million, or 79 cents a share, a year earlier.
Excluding certain items, the loss was 36 cents a share, twice as wide as the analysts' average estimate of 18 cents, according to Thomson Reuters I/B/E/S.
Sales fell $93 million to $10.5 billion. That missed the analysts' average estimate of $10.6 billion, according to Thomson Reuters I/B/E/S.
Sales at U.S. stores open at least a year fell 2.2 percent, with declines of 1.4 percent at Kmart and 2.8 percent at Sears Domestic.
Earlier this week, the retailer's Canadian unit, Sears Canada
(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)
