NEW YORK (TheStreet) -- Shares of Sears Holding Corp. (SHLD) are up 2.25% to $35.02 in pre-market trade after reporting a third quarter net loss of $548 million, less than it had estimated last month, as the struggling retailer cuts costs after years of sluggish sales, according to Reuters.
Sears had said that it was expecting a loss of $590 million-$630 million attributable to shareholders for the quarter ended November 1.
The company cut total expenses by 12% in the quarter. Sears said it had generated $2.2 billion in liquidity in its fiscal 2014 so far from asset sales and other actions, Reuters noted.
U.S. same-store sales were down 0.1%, in line with its forecast. Same-store sales were up 0.5% at Kmart stores, but slid 0.7% at Sears stores in the U.S..
Revenue declined for the 12th consecutive quarter, down 13% to $7.21 billion. Analysts on average had expected $6.88 billion, according to Thomson Reuters I/B/E/S.
You can view the full analysis from the report here: SHLD Ratings Report