Sears Holdings widened its loss during first quarter 2014 as it continues to move toward a member-centric, integrated model and invest in its Shop Your Way awards program. While progress continues, poor performance in its consumer electronic business and grocery and household items hampered sales at Kmart stores.
Jobs data from the Department of Labor released Friday show that among the 165,000 jobs added overall were 29,000 in the retail sector, results that industry trade group the National Retail Federation heralded as possibly boding well for the economy in the future.
While the numbers themselves speak volumes, it's important to consider some of the factors behind them that explain why the sector has thrived.
Among the highlights of the first Sears Holdings shareholder meeting since Edward Lampert became chairman and CEO were details on the company's progress in combining its brick-and-mortar and online businesses.
Kmart's comps declined 3.7% for the fourth quarter and fiscal year 2012, while parent company Sears Holdings' integrated online business grew by 25% for the quarter and 17% for the year, Sears Holdings said Thursday.