Sears sees strong Q4 on Kmart strength

Sears Holding Corp (SHLD.O) forecast a quarterly profit above Wall Street expectations, helped by strong sales of toys, home and sporting goods at Kmart, sending its shares up 10 percent on Tuesday morning on Nasdaq.

The parent of Sears department stores and Kmart discount chain said it sees earnings of $370-450 million, or $3.39-$4.12 a share, for the fourth quarter ending January 29.

Analysts on an average were expecting earnings of $3.09 cents a share, according to Thomson Reuters I/B/E/S.

The Sears store chain has been plagued by market share losses, especially in appliances and apparel. Kmart has, however, managed to retain some bargain-hungry U.S. shoppers.

Read Full Article from Reuters

- Posted: 2011-01-11 10:32:23

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