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Sears Holdings fiscal Q3 loss narrows YOY

Sears Holdings Corp. said its normalized net income for the fiscal third quarter ended Nov. 1 came to a loss of $1.96 per share, compared with the S&P Capital IQ consensus estimate of a loss of $3.31 per share.

The per-share loss decreased 38.3% year over year from $3.18.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $208.8 million, compared with a loss of $337.6 million in the year-earlier period.

The normalized profit margin climbed to negative 2.9% from negative 4.1% in the year-earlier period.

Total revenue declined 12.9% on an annual basis to $7.21 billion from $8.27 billion, and total operating expenses decreased 12.4% from the prior-year period to $7.69 billion from $8.78 billion.

Reported net income totaled a loss of $548.0 million, or a loss of $5.15 per share, compared to a loss of $533.7 million, or a loss of $5.03 per share, in the prior-year period.