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Sears Hometown and Outlet Stores posts Q2 loss
Hoffman Estates, Ill. -- Sears Hometown and Outlet Stores Inc.’s second-quarter net income dropped to $9.1 million, down from $21.1 million a year earlier, on expenses associated with its spinoff from Sears Holdings Corp. The company also announced that its board approved a $25 million buyback.
Revenue increased 2% to $656.9 million from $644.5 million. Same-store sales rose 1.4%, with an 8.2% increase for the chain’s outlet segment.