Strong decline

The American Sears Holdings recorded losses in both sales and profit in the first quarter of 2008. Total sales were 5.8 per cent down on the same period last year to US $ 11.068 bn (€ 7.15 bn). A sales drop of 8.6 per cent is reported for Sears domestic sales in like-for-like terms. The net loss amounts to US $ 56 mio (€ 36 mio). A net profit of US $ 223 mio (€ 144 mio) was achieved in the comparable period last year.