Tags: US | Earns | Sears | Holdings

Sears' Profit More Than Doubles on Robust Kmart Sales

Tuesday, 23 Feb 2010 06:48 AM

Kmart shoppers helped Sears Holdings boost its profit as the retailer posted its best fourth quarter in three years.

The owner of Sears and Kmart says it earned $430 million, or $3.74 per share. That's up from last year's profit of $190 million, or $1.55 per share.

Revenue dipped less than 1 percent to $13.25 billion.

Led by its financier chairman Edward Lampert, Sears has struggled as customers skipped out on its brands for competitors.

But in the fall, business began to turn around at its Kmart discount chain when sales at those stores rose for the first time since 2002. They grew again in the fourth quarter.

Sears' hasn't had such a strong fourth-quarter since 2006, when it earned $820 million.

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Kmart shoppers helped Sears Holdings boost its profit as the retailer posted its best fourth quarter in three years.The owner of Sears and Kmart says it earned $430 million, or $3.74 per share. That's up from last year's profit of $190 million, or $1.55 per share.Revenue...
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