Thursday, March 15, 2018

Sears Gains After Tax Benefit Helps Retailer Swing to a Profit


Sears Holdings Corp.  posted a rare quarterly profit after the U.S. tax overhaul helped the ailing retailer .

Sears alerted investors to the expected windfall last month, saying profit would be $140 million to $240 million. Sears also cut its long-term debt to $3.2 billion, down $1 billion from a year earlier.
The results have helped bring some optimism to investors, even as the chain’s sales continue to plummet. Its same-store sales -- a closely watched measure -- declined almost 16 percent last quarter, a sign the company didn’t benefit from a generally positive holiday season.. . . more

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