Sears ( SHLD) is trending as the retailer reported stronger-than-expected quarterly results on lower costs. The company reported a loss of $489 million, or $4.61 a share, in the fourth quarter, narrower than a loss of $2.4 billion, or $22.47 a share, a year ago. Excluding items, the company earned $1.12 a share, compared to analysts' expectations of a profit of 98 cents a share. Sears has made efforts to cut costs through closing stores and shedding assets. CEO Edward Lampert said the company will be investing in in-store technology, online business and Sears' loyalty program in order to help drive results.
Fashion's Night Out is another popular search. The annual event when retailers offer discounted prices along with free entertainment will be canceled across the U.S. this year. The event, created four years ago, was originally cultivated to aid retailers hit by the recession. Steven Kolb, CEO of the Council of Fashion Designers of America, said the event has served its purpose as retailers' sales have steadily improved. In a statement, organizers said the decision was made so retailers can focus on their own budgets instead of using their resources to put on the event.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.