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Its so sad, Romero said, looking across the deserted aisles at a Burbank, Calif., store. The years end inspired holiday-shopping nostalgia for its loyal customers, but it brings mostly gloom for once-mighty Sears, which saw an adjusted loss of $333 million for the third quarter that landed as Black Friday sales were being tallied. The Illinois-based retailer announced this year that it would shutter 76 stores across the country. Its also considering selling off its most popular and enduring brands Kenmore, Craftsman and DieHard. Fitch Ratings, one of the big three credit rating agencies, estimates Sears raised $4.7 billion from real estate transactions, but it still expects the company to burn through as much as $1.8 billion this year to keep operating. Sears isnt alone. Most of the chains traditional mall-anchor peers are struggling, too, their customers wooed to discounters, young-skewing specialty merchants and online titan Amazon. Across the mall, however, 114-year-old competitor J.C. Penney, headquartered in Texas, has logged a surprising, against-the-wind comeback.
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