UPDATE: Sears Posts Upbeat Q4 Profit
Sears Holdings (NASDAQ: SHLD) reported a narrower FQ4 loss.
Sears posted a quarterly loss of $489 million, or $4.61 per share, versus a year-ago loss of $2.4 billion, or $22.63 per share, in the year-ago period. Its adjusted earnings from continuing operations jumped to $1.12 per share from $0.54 per share.
Its sales declined to $12.26 billion from $12.48 billion. However, analysts were expecting a profit of $0.98 per share on sales of $11.77 billion.
Sears' US same-store sales dropped 1.6%.
Sears shares gained 4.28% to $49.50 in pre-market trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.