Sears (NASDAQ:SHLD) reported second-quarter earnings this morning. Expectations were generally low for the struggling retailer, but Sears couldn't even meet those. Shares are trading down as much as 8.5%. 

Sears missed analysts' consensus estimates on earnings per share and revenue. Additionally, comparable-store sales were down 1.5% from the year-ago period, merely the latest figure in a string of disappointing results from the company. The retail sector generally has had a mixed quarter, and companies like Kohl's and Wal-Mart have issued downbeat guidance going forward, which suggests the pain isn't likely to end soon. 

Sears stock is down 4% year to date, compared to double-digit rises in the S&P 500 and the Dow. Is Sears unjustly cheap, or is Mr. Market right about this stock? Motley Fool analyst David Hanson cautions against assuming Sears could be a good candidate for a value play. Given how unwavering Sears' decline has been, it doesn't look like the most promising buy-and-hold candidate.

David Hanson has no position in any stocks mentioned. Erin Kennedy has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.