Sears Sees Earnings Topping Estimates

HOFFMANN ESTATES, Illinois ( TheStreet) -- Sears ( SHLD) said Tuesday it expects net income in the fourth quarter of $370 million to $450 million, or $3.39 to $4.12 a share, which is above analysts' estimates.

The retailer, which owns Sears and Kmart stores, earned $3.74 a share in the year-earlier quarter.

Analysts surveyed by Thomson Reuters expect Sears to earn $3.09 a share in the fourth quarter ending Jan. 29.

In the fourth quarter to date, same-store sales were down 1.1%. Same-store sales at Sears Domestic in the quarter were down 5.3%, while Kmart sales were higher by 3.4%.

Sears, in a statement, said more than half of the same-store sales decline at Sears Domestic occurred in consumer electronics, with appliances and tools also experiencing declines.

Sears said same-store sales in December fell 1.7%.

-- Written by Joseph Woelfel

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