Listening to a Sears earnings call in 2016 is like realizing that the twinkling light you're admiring in the night sky is from a star that died 50 years ago.
Sears Holdings Corp. lost $748 million last quarter amid falling sales, an even worse performance than the dismal losses of the period a year earlier. There is no obvious reason that the business might improve. And yet executives are still discussing how important its shopper loyalty program is "to the future and growth of the company," as if the company were going to have growth, and shoppers and a future.
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