Sears Holdings Corp. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to a loss of $1.01 per share, compared with the S&P Capital IQ consensus estimate of a loss of $1.77 per share.
The per-share loss narrowed 64.8% year over year from $2.88.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $107.5 million, compared with a loss of $305.5 million in the fourth quarter ended Feb. 1, 2014.
The normalized profit margin increased to negative 1.2% from negative 2.9% in the year-earlier period.
Total revenue decreased 23.5% year over year to $8.10 billion from $10.59 billion, and total operating expenses decreased 24.7% on an annual basis to $8.18 billion from $10.86 billion.
Reported net income came to a loss of $158.4 million, or a loss of $1.50 per share, compared to a loss of $358.6 million, or a loss of $3.38 per share, in the fourth quarter ended Feb. 1, 2014.
For the year, the company's normalized net income totaled a loss of $8.34 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of $9.77.
EPS was a loss of $10.22 in the prior year.
Normalized net income was a loss of $887.0 million, compared with a loss of $1.08 billion in the prior year.
Full-year total revenue decreased 13.8% year over year to $31.20 billion from $36.19 billion, and total operating expenses declined 12.9% year over year to $32.65 billion from $37.48 billion.
The company said reported net income totaled a loss of $1.68 billion, or a loss of $15.82 per share, in the full year, compared with a loss of $1.37 billion, or a loss of $12.87 per share, the prior year.
