Sears releases year-end outlook
Hoffman Estates, Ill.-based Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.
For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.
The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.
For the quarter-to-date, comparable-store sales for its Sears Domestic stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.
For the year-to-date comparable-store sales, Sears Domestic saw a decline of 3.8%, with Kmart seeing a .8% increase.
Sears Holdings will release its fourth-quarter and year-end financial results Feb. 24.