Sears Hometown and Outlet Stores Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to a loss of 20 cents per share, compared with a loss of 19 cents per share in the third quarter ended Nov. 1, 2014.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.6 million, compared with a loss of $4.2 million in the third quarter ended Nov. 1, 2014.
The normalized profit margin fell to negative 1.1% from negative 0.7% in the year-earlier period.
Total revenue declined on an annual basis to $547.1 million from $565.1 million, and total operating expenses decreased year over year to $554.6 million from $571.9 million.
Reported net income totaled a loss of $3.9 million, or a loss of 17 cents per share, compared to a loss of $171.1 million, or a loss of $7.55 per share, in the third quarter ended Nov. 1, 2014.