Sears' first-quarter loss widened as the beleaguered retailer's sales declined amid its ongoing struggle to attract shoppers.
Sears Holdings Corp. — which operates Kmart and its namesake stores — has been cutting costs, reducing inventory and selling assets to return to profit. At the same time, it's shifting away from its focus on running a store network into a member-focused business.
The latest results show the heavy challenges that remain.
Chairman and CEO Edward Lampert said in a statement on Thursday that Sears is seeing progress in its shift to a member-focused business, with first-quarter member sales comprising 74 percent of eligible sales —...