This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sears Warns of Weak First Quarter

Sears (S) said same-store sales fell in March, and the company also warned that it wouldn't hit Wall Street's earnings estimates for the first quarter.

The company said on Thursday that it expects earnings to total 53 cents in the first quarter. Thirteen analysts polled by Thomson Financial/First Call are calling for 57 cents a share, well below the 65 cents Sears posted in the year-ago period.

Sears also said domestic-store revenue for the five weeks ended April 7 came to $2.56 billion. Domestic same-store sales decreased 5.3% and total domestic store revenue fell 5.1%, when measured against the $2.7 billion in the year-ago period.

Analysts expected same-store sales to decrease by 1.8% for the month. Sears attributed the shortfall to the slowing economy and colder-than-expected weather.

Shares of Sears rose 25 cents, or 0.7%, to $34.90 in recent New York Stock Exchange trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
S $5.27 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs