Sears' quarterly loss narrows

Sears Holdings Corp. reported a smaller first-quarter loss as its Kmart chain and Sears department stores discounted less.

The net loss attributable to Sears shareholders was $303 million, or $2.85 per share, for the quarter ended May 2, compared to a loss of $402 million, or $3.79 per share, a year earlier, according to Reuters. The comapny has posted 12 straight quarters of losses.

Revenue fell 25.3 percent to $5.88 billion. Comparable store sales declined 10.9 percent during the quarter.

Read more from Reuters.