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Sears Holdings fiscal Q2 loss widens 17.5% YOY

Sears Holdings Corp. said its normalized net income for the fiscal second quarter ended Aug. 2 was a loss of $3.00 per share, compared with the S&P Capital IQ consensus estimate of a loss of $2.63 per share.

The per-share loss increased 17.3% year over year from $2.56.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $318.9 million, compared with a loss of $271.4 million in the prior-year period.

The normalized profit margin fell to negative 4.0% from negative 3.1% in the year-earlier period.

Total revenue fell 9.7% year over year to $8.01 billion from $8.87 billion, and total operating expenses decreased 7.1% from the prior-year period to $8.50 billion from $9.15 billion.

Reported net income came to a loss of $573.0 million, or a loss of $5.39 per share, compared to a loss of $194.2 million, or a loss of $1.83 per share, in the prior-year period.