Sears Holdings Corp. (NASDAQ:SHLD) had fallen 3% after hours on Wednesday on the company’s weak third-quarter earnings report. Revenue fell to $5.03 billion but beat analyst estimates by $80 million. Sears posted a net loss of $333 million or $3.11 per share that beat expectations by $0.95 per share. The loss is larger than the one reported last year of $305 million.
Store sales had fallen 10 percent on weak demand for home appliances, apparel and consumer electronics. Domestic revenue fell to $3.14 million, which is a 10.3 percent decrease. The company had reduced its store count by 184 locations. Sears hasn’t reported positive sales growth in years and analysts don’t expect that to change anytime soon. Wall Street experts expect the company’s sales to fall 12 percent this year and 8 percent the next.
Although expectations for Sears seems meager at best, shares opened today at $11.39 and is currently trading at $12.75 (+5.2%) showing that even though numbers aren’t as strong, investors are still confident in this company.