Sears Sales, Shares Drop

Time: Aug 3rd  2015   Copy editor: Tyrefull

Sears Holding Corp.’s sales figure continues to fall in the recently released second quarter performance update.

During the second quarter, Sears Domestic store sales dropped 13.9% quarter to date, according to the company. Sales at stores open at least a year dropped 10.6% quarter to date.

Sears stock dropped more than 10% as a result.

According to the Associated Press, the company said soft consumer electronics sales hurt performance.

Sears will report the full second-quarter financial results on Aug. 20.

Sears also announced it will extend a $3.28 billion credit line and has $2.7 billion from more than 200 properties sold to a real estate investment trust. 

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