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Sears downgraded as it negotiates with lenders

January 19, 2018

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Sears said in January it was committed to becoming profitable again this year. Its road toward black ink, however, still looks long and uncertain.

For one, it had an alarmingly terrible holiday sales season. The retailer said in January that comparable store sales at Sears and Kmart for the first two months of the fourth quarter — which includes the holiday season — were down 16% to 17%. That figure included reductions in some store pharmacies and electronics products, but even with those effects excluded, comps were still down around 15%.

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