The retailer's Q2 results were "a little bit heartening, but still left some open areas of worry," including another double-digit comp sales decline.
The retailer's same-store sales dipped 5.2% and it is getting another $300 million in financing from CEO Edward Lampert's hedge fund.
Revenue fell 8.3% to $5.39 billion, primarily driven by a 6.1% decline in comparable store sales during the first quarter.
The retailing giant is forming a real estate investment trust that will buy 254 of its Sears and Kmart properties.
Two hundred to three hundred stores would be sold to a newly formed real estate investment trust in a further attempt to raise cash.
