UPDATE: Sears Holdings Swings To FQ1 Loss

Sears Holdings Corp SHLD swung to a FQ1 loss from a year-ago profit. Sears Holdings posted a 3.6% drop in its domestic same-store sales. The company posted a quarterly loss at $170 million, or $1.58 per share, versus a net income of $16 million, or $0.14 per share, in the year-ago period. On an adjusted basis, Sears' loss came in at $1.39 per share. Its shares outstanding dropped 6% to 107.8 million. The company's revenue dropped to $9.71 billion from $10.05 billion. However, analysts were expecting a loss of $1.22 per share on revenue of $9.73 billion. Sears Holdings shares gained 0.86% to close at $75.85 yesterday. Read more from Benzinga's Company news.