Boston, MA 05/28/2013 (wallstreetpr) – The shares of Sears Holding Corp. (NASDAQ:SHLD) had been continuously declining to new low levels after the company had reported its first quarter financial results for the fiscal year. The share price of the retailer based in United States had declined by 13.62 percent to close at $50.25 per share for the end of last trading session. The shares of Sears Holding Corp. (NASDAQ:SHLD) had been trading in the range of $47.33 to $50.76 per share during the day.
Results of First Quarter, 2013
Sears Holding Corp. (NASDAQ:SHLD) reported the first quarter results recently in which the company had registered adjusted net loss of $1.29 per basic and diluted share while the consensus estimate of experts was $0.60 loss per share and the loss for same quarter of previous year was $0.59 per share. Though the retailer had missed expectations on net income attributable to shareholders, Sears Holding Corp. (NASDAQ:SHLD) had managed to beat the analyst expectations on revenue with $8.45 billion.
The GAAP earnings per share for Sears Holding Corp. (NASDAQ:SHLD) was reported to be $2.63 loss per basic and diluted share against the loss of $1.78 per share for the same quarter of previous year. Such less than expected performance of Sears Holding Corp. (NASDAQ:SHLD) in the first quarter had pushed the share prices to one month low levels and the prices had moved below its 50 day and 200 day moving averages.
Sears Holding Corp. (NASDAQ:SHLD) holds 106.41 million shares outstanding and the institutional ownership is 72 percent of the holdings. While the trading volume for the day was strong at 7.92 million shares, the average trading volume for the company is 910,552 shares per day.
