Sears is exploring options for two businesses, sending its share price higher as revenue continues to fall
The one-time largest US retailer Sears has posted a loss of $471m (£320m) or $4.41 a share for its latest quarter.
The loss has widened from the $303m it reported a year earlier and has led the company to explore potential partnerships or other deals for some of its biggest brands.
Sears is considering opening up the Kenmore, Craftsman and DieHard brands, as well as its repair arm Sears Home Services to try and expand distribution and service offerings.
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Currently they're only available in Sears' and Kmart stores. Shares in the retailer climbed in early trading in the US, up around four per cent.
Revenue fell by 8.3 per cent to $5.39bn, though this was mostly due to closures of some Kmart and Sears stores over the year.
A total of $268m was attributable to comparable-store declines, while $149m of the decline was due to having fewer stores.
Neil Saunders, head of retail research firm Conlumino, said:
[Sears] has fallen out of favour with American shoppers who continue to abandon the chain at a fairly alarming rate.
Meanwhile, it was revealed that chief financial officer Robert Schriesheim will leave the company but will remain an adviser until January. He is one of the company's longest serving executives, having joined the company in 2011.
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Sears is the latest in a line of US retailers to report struggling sales in 2016. JC Penney, Target, and Best Buy have all been hit by customers moving to online retailers.
Sears has hired bankers from Citigroup Global Markets and LionTree Advisors to advise on potential deals for its brands and businesses.