Sears Holdings holiday comps fall 3.5%

HOFFMAN ESTATES, Ill. Sears Holdings today announced that total domestic comparable-store sales declined 3.5% for the nine-week holiday selling period.

According to the company, Sears Holdings experienced lower sales across most categories, with notable declines in the Sears apparel and tools categories and the Kmart seasonal categories. These decreases were partially offset by increased sales within home electronics at both store formats.

The company said it expects net income for the fourth quarter ending Feb. 2, to be between $350 million and $470 million, or between $2.59 and $3.48 per fully diluted share. In the fourth quarter of the prior year, the company reported net income of $820 million, or $5.33 per fully diluted share.

For the full year ending Feb. 2, Sears Holdings expects net income to be between $744 million and $864 million, or between $5.13 and $5.96 per fully diluted share.