Sears' net income climbs

Sears Holdings Corp.'s fiscal first-quarter net income showed a solid increase -- thanks to a number of one-time gains -- but the retail giant's underlying profits were flat, the company said today.

"In part, our domestic operating results reflect the impact of some of the same challenges being faced by our customers, such as rising energy costs and a slowing housing market," said President and Chief Executive Officer Aylwin Lewis.

For the quarter ended May 5, net income at the Hoffman Estates company was $216 million, or $1.40 a diluted share, up from the year-ago period's $180 million, or $1.14 a share.

Sears' revenues slipped slightly to $11.70 billion from $12.0 billion.

Read Full Article from Chicago Tribune

- Posted: 2007-05-31 10:21:04

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