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Report: Sears Lowers Holiday Forecast

Holiday season revenue at Sears may come in below its initial forecast, adding another challenge to the financially struggling retailer.

According to a Bloomberg report, the retailer in its October 15 bankruptcy filing included revenue forecasts of $241 million for the week of Christmas and $1.93 billion for the two month period ending January 12.

An updated filing on Friday, November 30, revised those forecasts. The company is now projecting Christmas week sales of $215 million and $1.69 billion for the two month period from October 15 through January 12.

In addition, Sears is also anticipating negative operating cash flow in the weeks leading into Christmas. Bloomberg said the revised figures were included in documents filed late with the federal bankruptcy court handling the case.