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Sears - Holdings

Sears - Holdings
Sears posts profit due to tax benefit, shares rise
The Associated Press - March 15, 2018

HOFFMAN ESTATES, Ill. - Sears Holdings said a key sales figure fell during the important holiday shopping season. But the struggling department store operator posted a profit for the quarter, mainly due to a tax benefit.

Shares of Sears Holdings Corp., which fell more than 70 percent in the last year, rose almost 9 percent in extended trading Wednesday.

The owner of Sears and Kmart has been closing stores, cutting costings and selling brands to save money and deal with falling sales.

During the fourth quarter, which included the holiday season, sales fell 15.6 percent at established stores.



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