Sears Hometown & Outlet Stores Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to a loss of 28 cents per share, compared with 20 cents per share in the fourth quarter ended Feb. 1, 2014.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.2 million, compared with income of $4.5 million in the fourth quarter ended Feb. 1, 2014.
The normalized profit margin dropped to negative 1.0% from 0.8% in the year-earlier period.
Total revenue decreased 6.7% year over year to $562.3 million from $602.5 million, and total operating expenses declined year over year to $572.0 million from $594.7 million.
Reported net income totaled a loss of $4.8 million, or a loss of 21 cents per share, compared to income of $3.8 million, or 16 cents per share, in the fourth quarter ended Feb. 1, 2014.
For the year, the company's normalized net income totaled a loss of 14 cents per share, compared with $1.59 per share in the prior year.
Normalized net income was a loss of $3.1 million, compared with income of $36.4 million in the prior year.
Full-year total revenue decreased on an annual basis to $2.36 billion from $2.42 billion, and total operating expenses totaled $2.36 billion, compared with $2.36 billion in the prior-year period.
The company said reported net income totaled a loss of $168.9 million, or a loss of $7.45 per share, in the full year, compared with income of $35.6 million, or $1.55 per share, the prior year.
