ILLINOIS: Sears Holdings Corp. announced third quarter of fiscal 2015 (3QFY15) results, wherein it reported adjusted earnings per share (EPS) of $2.86, which beat the analysts’ consensus of $2.84. Quarterly revenue was $5.8 billion, which beat the consensus forecast of $5.51 billion. However, Sears Holdings reported that its same-store sales (SSS) decreased 8.6%.
Revenue fell year-over-year (YoY) by almost $1.5 billion, and the company stated that the reason was the streamlining of operations, and focus to become a member-centric retailer. SSS was down due to an offset in apparel, grocery & household, drugstore, and consumer electronics.
Sears Holdings CEO and chairman Edward S. Lampert commented: “As we head into the fourth quarter, we have intensified our focus on our product offerings and promotions in order to enhance member engagement and provide our members with the best experience possible throughout the holiday shopping season.” At present, Sears Holdings stock is up 3.23% at $21.07 during after-market hours, and can be expected to rise when trading starts today.
