We went to Sears and saw why the company is imploding
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Sears
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Sears' losses are mounting.
The company said Thursday that revenue fell 13% to $5 billion in the third quarter, with losses widening to $748 million from $454 million in the period last year.
Same-store sales dropped 7.4%, including a 10% decrease at Sears stores and a 4.4% decrease at Kmart stores.
The company said it would continue to accelerate store closings to help stop the bleeding.
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According to analysts, the stores that remain open are shells of what they once were and that it's only a matter of time before the retailer goes bankrupt.
We visited a Sears store in Richmond, Virginia, in June to see what is going wrong.
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