Sears Holdings Profit Down

0

Sears Holdings Corp., on Tuesday posted lower quarterly profit on sluggish sales, but its shares rose as much as 7 percent as earnings beat Wall Street expectations.


The third-largest U.S. retailer said comparable-store sales fell at both Kmart and Sears. Kmart reported weak demand for electronics and home products, while Sears continued to struggle with poor clothing sales. Net income dropped to $58 million (35 cents per share) in the third quarter ended Oct. 29, from $552 million ($5.45) a year earlier.


*

Read the full Reuters story

.

No posts to display