Sears narrows loss in quarter

HOFFMAN ESTATES, Ill. — Sears’ first-quarter loss narrowed as the retailer reduced expenses.

The company — which runs Sears and Kmart stores — lost $303 million, or $2.85 per share. Losses, adjusted for one-time gains and costs, were $2 per share. That compares with a loss of $402 million, or $3.79 per share, a year earlier.

Selling and administrative expenses declined to $1.68 billion from $2.09 billion. Revenue fell to $5.88 billion from $7.88 billion.

Sales at Sears domestic locations open at least a year dropped 14.5 percent, while sales at Kmart domestic locations open at least a year fell 7 percent.

Netflix expands world offerings

LOS GATOS, Calif. — Netflix will debut in Italy and Portugal in October as the Internet video service accelerates its international expansion.

The move into two more European countries was announced Saturday, just a few days after the Los Gatos, Calif., company unveiled its plans to begin selling its service in Spain.

Netflix is already in more than 50 countries.

By The Associated Press