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Sears Hometown reports preliminary Q4 net income drop
Hoffman Estates, Ill. – Sears Hometown and Outlet Stores Inc. reported preliminary declines in net income, net sales and same-store sales for the fourth quarter of fiscal 2013. Compared to the same quarter a year earlier, Sears Hometown reported net income of $3.72 million, down 61% from $9.66 million. -
Kenmore and Craftsman can’t help Sears
Sears Hometown and Outlet Stores said fourth-quarter same-store sales declined 3.4% as two of the company’s best known brand had disappointing results. Sales in the fourth quarter declined 4.5% to $602.4 million due to the combination of a 3.4% same-store sales decline and an extra week in the fourth quarter the prior year, which added sales of $36.5 million. The same-store sales decline was made up of a 4% decline at the Hometown division and 1.5% decline at the outlet division.