The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores.
Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales.
Still, they said the haircut won't be enough on its own to turn the tide at Sears, adding that it needs to close even more stores—and figure out how to become profitable.
....Sozzi sounded a more sour note on Sears, saying "the soul of this report is really bad."
Although the company said it expects its improving year-over-year adjusted earnings trend to continue in the fourth quarter, Sozzi said it was concerning that the retailer didn't offer up any sales figures for the holidays so far.
...According to Retail Metrics, Sears hasn't posted a quarterly profit since fourth quarter 2012.
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