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Sears Hometown & Outlet Stores fiscal Q2 profit falls YOY

Sears Hometown and Outlet Stores Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 amounted to 7 cents per share, a decrease of 54.1% from 16 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.6 million, a decline of 54.1% from $3.6 million in the year-earlier period.

The normalized profit margin fell to 0.0% from 0.6% in the year-earlier period.

Total revenue decreased year over year to $619.6 million from $638.7 million, and total operating expenses declined from the prior-year period to $616.9 million from $632.9 million.

Reported net income declined 53.3% year over year to $1.6 million, or 7 cents per share, from $3.4 million, or 15 cents per share.