11/19/2009-Sears (NASDAQ:SHLD) reported a Q3 loss of $0.81 per share, ex-items, topping consensus estimates for a loss of $1.09.

Revenues in the quarter slipped 4% year-over-year to $10.19 billion, but came in ahead of consensus estimates of $9.92 billion.

Sears reported Q3 gross margin of 27.2%, vs. 26.8% last year.

The company reported same-store sales off 4.6%, but its total debt balance at the end of the quarter was $3.8 billion, vs. $4.5 billion last year.

"We saw some encouraging signs of progress in the third quarter. Comparable store sales increased at Kmart and the decline in sales at Sears moderated during the quarter. Additionally, we increased margin rates and reduced selling and administrative expenses by $101 million," said W. Bruce Johnson, Sears Holdings' interim chief executive officer and president. "As we approach this important selling season, we are focused on executing our holiday strategy and meeting our customers' needs."

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