Sears Posts its Biggest Holiday Sales Drop in History

Sears has been on a long downward spiral and Eddie Lampert, who took control of Sears more than a decade ago and became its CEO in 2013 has been a disaster for the company.

The headline today is, Sears same store sales plunged nearly 20%, making it the worst in its 132 year history

Same-store sales, or sales at stores open at least a year, dropped 15.6% during the fourth quarter, including a 12.2% drop at Kmart and an 18.1% drop at Sears, the company said in a regulatory filing Thursday.

The 18.1% decline is the worst same-store sales drop in history for Sears' namesake stores.

The company said it expects revenue to be $4.4 billion for the quarter, a drop from $6.1 billion in revenue the previous year.

Sears is expecting to turn a profit, however, of between $140 million to $240 million. Sears said it expects to benefit somewhere between $445 million and $495 million from the new tax law.

Sears has closed hundreds of locations over the past two years and sales have fallen in the last 24 consecutive quarters, Fortune reported.