Sears 4Q loss narrows as company reduces expenses
HOFFMAN ESTATES – Sears posted a smaller loss in the fourth quarter as it reduced its inventory and expenses while sales at its namesake stores rose slightly.
The company that also owns the Kmart store chain lost $489 million, or $4.61 per share, for the period ended Feb. 2. That compares with a loss of $2.4 billion, or $22.63 per share, a year earlier.
Excluding certain items, earnings from continuing operations were $1.12 per share.