Sears sales down significantly in the third quarter

The American retail group Sears finished the third quarter (ended October 2016) of its fiscal 2016/2017 with a 12.5 per cent drop in sales to USD 5.029 bn. The decline compared with the figure for the previous year was caused by a reduction in the number of stores and a 7.4 per cent drop in comparable store sales. Sales in the first three quarters fell by 9.8 per cent to USD 16.086 bn.