UPDATE: Sears Reports Q4 Results, To Sell 11 Stores

Sears Holdings Corp (NASDAQ: SHLD) swung to a fourth-quarter loss.

Sears posted a quarterly loss from continuing operations of $2.4 billion, or $22.47 per share, versus a year-ago net income from continuing operations of $374 million, or $3.43 per share. Its adjusted earnings dropped to $0.54 per share, from $3.67 per share. Its revenue dropped to $12.5 billion, from $13 billion. However, analysts were expecting earnings of $0.76 per share on revenue of $12.4 billion.

Sears also announced its plans to sell 11 stores to General Growth Properties Inc.

Sears shares surged 11.89% to $58.27 in pre-market trading.