Sears expects 4Q, full-year earnings to top Street
BY ASSOCIATED PRESS January 11, 2011 9:37AM
HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. expects its fourth-quarter and full-year adjusted earnings to top Wall Street’s expectations.
The Edward Lampert-led company, which runs its namesake stores as well as Kmart locations, predicted on Tuesday that earnings for the year ending Jan. 29 will be between $1.16 and $1.88 per share.
Analysts anticipate earnings of 88 cents per share.
For the fourth quarter, Sears expects adjusted earnings of $3.39 to $4.12 per share. That would beat analysts’ $3.12 per share estimate.
The outlooks exclude items such as store closings and impairment charges.
Sears of Hoffman Estates, Ill. said revenue at stores open at least a year dipped 1.7 percent in December. This figure is a key gauge of a retailer’s health because it excludes sales at stores opened or closed in the past year.