Sears, Roebuck and Co has reported lower than expected second-quarter profit due to poor spring sales.

The company said it earned $53 million, or 24 cents per share in the second quarter, compared with $309m, or $1.04 per share last year.

Chief executive Alan Lacy said: "Like much of the industry, we experienced weak demand in June.

"That, combined with the overhang of our spring apparel assortment and inventory issues, resulted in a disappointing quarter."

Sears is under pressure to perform without the credit card division that it sold to Citigroup in 2003.