Sears Hometown & Outlet Stores Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to 16 cents per share, a decline of 61.9% from 41 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, a decline of 62.6% from $9.5 million in the year-earlier period.
The normalized profit margin declined to 0.6% from 1.4% in the year-earlier period.
Total revenue fell on an annual basis to $638.7 million from $656.9 million, and total operating expenses decreased on an annual basis to $632.9 million from $641.5 million.
Reported net income decreased 63.2% from the prior-year period to $3.4 million, or 15 cents per share, from $9.2 million, or 40 cents per share.
