Sears has reported a $127m (£78m) net loss for the third quarter ending October 31.

Revenues declined $470m (£288m) to $10.2bn (£6.2bn) due to lower like-for-like sales and 56 fewer Kmart and Sears full-line stores. However, this was partially offset by an increase of $42m (£26m) due to the impact of foreign currency exchange rates.

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