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updated: 2/27/2014 2:44 PM

Sears 4Q loss narrows as it lowers expenses

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  • Sears Holdings Corp., the retailer run by hedge fund manager Edward Lampert, said Thursday its fourth-quarter loss narrowed to $358 million as it sold assets and trimmed costs.

    Sears Holdings Corp., the retailer run by hedge fund manager Edward Lampert, said Thursday its fourth-quarter loss narrowed to $358 million as it sold assets and trimmed costs.
    ASSOCIATED PRESS

 
Associated Press

Hoffman Estates-based Sears Holdings Corp. reported a hefty loss in the fourth-quarter on a 14 percent sales drop, as the beleaguered retailer continues to struggle to bring shoppers into its stores. But shares rose 5 percent in midday trading as the operator of Kmart and Sears stores narrowed its loss versus a year ago. It is also seeing rare sales growth this month.

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