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Sears narrows Q4 loss
Hoffman Estates, Ill. -- Sears Holding Corp. reported a higher-than-expected quarterly profit for the fourth quarter before special items, boosted by lower costs.
The company said its net loss for the quarter ended on Feb. 2 narrowed to $489 million from $2.4 billion a year earlier. Total costs dropped 2.2% to $12.88 billion in the fourth quarter.
Sales declined about 1.8% to $12.26 billion, but beat analysts' average estimate of $11.77 billion.