Revenue dips at Sears and Gap

SEARS Holdings quarterly loss has almost doubled as weak demand for gadgets hit the retailer.

Revenue fell 1.2 per cent to $9.57bn (£6.05bn) in quarter three, below the analysts’ average estimate of $9.60bn.

And Gap said its revenues fell by two per cent to $3.59bn in the third quarter, while profits slumped 36 per cent – though this figures was slightly ahead of analyst expectations.

The owner of the Gap, American Navy and Banana Republic brands said it maintained its full year guidance.