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Sears Hometown & Outlet Stores swings to loss in fiscal Q3

Sears Hometown & Outlet Stores Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to a loss of 19 cents per share, compared with 31 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 a loss of $4.2 million, compared with income of $7.1 million in the year-earlier period.

The normalized profit margin declined to negative 0.7% from 1.3% in the year-earlier period.

Total revenue came to $565.1 million, compared with $561.1 million in the year-earlier period, and total operating expenses increased year over year to $571.9 million from $549.5 million.

Reported net income totaled a loss of $171.1 million, or a loss of $7.55 per share, compared to income of $7.6 million, or 33 cents per share, in the year-earlier period.