NEW YORK (TheStreet) -- Shares of Sears Holding Corp. (SHLD - Get Report) are down -2.89% to $34.91 in pre-market trade after the company indicated more cost cuts and changes are on the way as it posted a $573 million quarterly loss amid declining revenue and margins, the Wall Street Journal reports.
Sears said slumping electronics sales continued to weigh on results, as did margin-squeezing costs from promotions.
Sears is now relying on its membership program and online business to drive sales while its turnaround grinds on, the Journal said.
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