Sears Holdings Corp. and Kohl’s Corp. both posted fourth-quarter results Thursday, with the former narrowing its loss and the latter hurt by slower sales early in the quarter.
At Sears, the company showed improved quarterly results by narrowing its loss to $489 million, or $4.61 a diluted share, for the period ended Feb. 2, from the loss of $2.4 billion, or $22.63, a year ago. Revenues fell 1.8 percent to $12.26 billion from $12.48 billion. Comparable-store sales at the Kmart nameplate fell 3.7 percent, while comps at domestic Sears stores rose 0.8 percent. Comps at the Sears Canada operation decreased 3.8 percent. For the year, the loss narrowed to $930 million, or $8.78 a diluted share, on a 4.1 percent decrease in net revenues to $39.85 billion.
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